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NARA [144]
3 years ago
12

A credit card company wants to test the hypothesis that its account holders spend an average of $100 per month at gasoline stati

ons. They take a sample of 1000 accounts and find an average spend of $115 with a standard deviation of $41. Conduct this hypothesis test with a .01 level of significance. What is the test statistic?
Mathematics
1 answer:
Oksi-84 [34.3K]3 years ago
6 0

Answer:

test statistics = 11.57

Step-by-step explanation:

test statics = \frac{average spend from the sample - average spend  from theory}{Standard  deviation / \sqrt{no  of samples} }

= \frac{115-100}{41/\sqrt{1000} }  = 11.57

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