Flora made 7 withdrawals of $75 each from her bank account. What was the overall change in her account
2 answers:
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Solution :
This is the two tailed test.
The null hypothesis and the alternate hypothesis is as :
Null hypothesis is
Alternate hypothesis is
Therefore, the critical value of z is :
Now the test statics is :
The test statics is 0.878
We see that it is a right tailed test.
= 0.3800
Thus , P-value > α
So we fail to reject the null hypothesis.