Mary Examined a Random Sample of Friday Withdrawals from a College

question 137

Essay

Mary examined a random sample of Friday withdrawals from a college campus ATM. She hypothesized that the mean was less than $100. The results shown below are from MegaStat. What would Mary conclude from this test? Explain carefully.
Hypothesis Test: Mean vs. Hypothesized Value
$100.000$ $\quad$$\quad$ hypothesized value
$85.882$ $\quad$$\quad$ mean Withdrawal
$85.078$ $\quad$$\quad$ std. dev.
$20.634$ $\quad$$\quad$ std. error
$17$$\quad$$\quad$$\quad$$\quad$ n
16 $\quad$$\quad$$\quad$$\quad$ df
$- 0.68$$\quad$$\quad$$\quad$ t
$.2518$$\quad$$\quad$ p-value (one-tailed, lower)

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Definitions:

Symbolized

The act of representing ideas, principles, or concepts through symbols, often found in literature, art, and mathematics as a form of expression or communication.

Circle

A simple geometric shape consisting of all points in a plane that are at a given distance from a given point, the center.

Pure Thinking

Refers to the process of thought that is abstract and untainted by personal biases, emotions, or external influences.

Averroes

A medieval Andalusian polymath renowned for his work in philosophy, theology, and law, particularly his commentaries on Aristotle.