Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. basic math
  3. a bank found that in recent years the average mont

A bank found that in recent years the average monthly charge on its credit card...

50.1K

Verified Solution

Question

Basic Math

image

A bank found that in recent years the average monthly charge on its credit card was 1 350 With an improving economy they suspect that this amount has increased A sample of 40 customers resulted in an average monthly charge of 1 376 11 with a standard deviation of 182 57 Do these data provide statistical evidence that the average monthly charge has increased Formulate the appropriate hypothesis fest and draw a conclusion Use a level of significance of 0 05 Is there sufficient evidence at the 0 05 level of significance that the average monthly charge has increased Determine the null hypothesis Ho and the alternative hypothesis H Ho H 1350 H 14 1350 Type whole numbers Compute the test statistic 0 90 Round to two decimal places as needed Using a level of significance of 0 05 what is the critical value 1 68 Round to two decimal places as needed Find the p value for the test Round to three decimal places as needed

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Buchholz Corporation follows a moderate current asset investment policy, but is now considering a change, perhaps...

Finance
Q

mearth=5.9742×10^24kg rearth=6.3781×10^6 m mmoon=7.36×10^22kg rmoon=1.7374×10^6m death to moon=3.844×10^8m center to center G=6.67428×10^-11 1700 kg satellite is orbiting the Earth in a...

Physics
Q

Determine the number of slack variables and name them. Then use the slackvariables to convert...

Basic Math
Q

If 0= 135, find the exact value of each expression below.(a) cos (-?) = 1(b)cos...

Basic Math
Q

How would you divide a 16 inch line into two parts of length A and...

Calculus
Q

Shell Corp has been in business for 1 year. During that time, Shell has seen...

Accounting
Q

490,000 310,000 Northwood Company manufactures basketballs. The company has a ball that sells for $25....

Accounting
Q

The Baybrook Company issued $5 million of 8% bonds on January 1, 2020. The bonds...

Accounting
Q

Q1:which term listed below describes costs incurred when the company fails to detect poor quality...

Accounting
Q

Action Items States the identified accounting issue. Identifies the accounting rule(s) that...

Accounting
Q

Under PFRS9, investment in equity securities not held for trading are classified as: ...

Accounting
Q

Present the following accounts in the general ledger of Monica Traders for the year ended...

Accounting