A manager of the credit department for an oil company would like to determine whether the mean
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Question:
A manager of the credit department for an oil company would like to determine whether the mean monthly balance of credit card holders is equal to $75. An auditor selects a random sample of 100 accounts and finds that the mean owed is $83.40 with a sample standard deviation of $23.65. If you wanted to test whether the mean balance is different from $75 and decided to reject the null hypothesis, what conclusion could you reach?
Select one:
a. There is evidence that the mean balance is not $75.
b. There is evidence that the mean balance is $75.
Related Book For
Statistics for the Behavioral Sciences
ISBN: 978-1111830991
9th edition
Authors: Frederick J Gravetter, Larry B. Wallnau
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