Nam has a beginning balance of $815 in her checking account. She writes a check for $210 and has a debit transaction of $525. Wh
2 answers:
You might be interested in
Answer:
a. z=3.09. Yes, it can be concluded that the population mean is greater than 50.
b. z=1.24. No, it can not be concluded that the population mean is greater than 50.
c. z=2.22. Yes, it can be concluded that the population mean is greater than 50.
Step-by-step explanation:
We have a hypothesis test for the mean, with the hypothesis:
The sample size is n=55 and the population standard deviation is 6.
The significance level is 0.05.
We can calculate the standard error as:
For a significance level of 0.05, the critical value for z is zc=1.644. If the test statistic is bigger than 1.644, the null hypothesis is rejected.
a. If the sample mean is M=52.5, the test statistic is:
The null hypothesis is rejected, as z>zc and falls in the rejection region.
b. If the sample mean is M=51, the test statistic is:
The null hypothesis failed to be rejected, as z<zc and falls in the acceptance region.
c. If the sample mean is M=51.8, the test statistic is:
The null hypothesis is rejected, as z>zc and falls in the rejection region.