The manager of credit card operations for a small regional bank has determined that last years median

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The manager of credit card operations for a small regional bank has determined that last year’s median credit card balance was $1,989.32. A sample of 18 customer balances this year revealed the following figures, in dollars:

Sample 1 Sample 2 Sample 3 Sample 4 Sample 5 Sample 6 1,827.85 1,992.75 2,012.35 1,955.64 2,023.19 1,998.52 Sample 7 Sample 8 Sample 9 Sample 10 Sample 11 Sample 12 2,003.75 1,752.55 1,865.32 2,013.13 2,225.35 2,100.35 Sample 13 Sample 14 Sample 15 Sample 16 Sample 17 Sample 18 2,002.02 1,850.37 1,995.35 2,001.18 2,252.54 2,035.75 Based on the 18 customer balances sampled, is there enough evidence to allow you to conclude the median balance has changed? Test at the 0.05 level of significance.

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Business Statistics A Decision Making Approach

ISBN: 9780136121015

8th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith

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