Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A manager at a Credit Union claims that the average total weekend withdrawal from a cash machine is $7,500. Head office is concerned that this
A manager at a Credit Union claims that the average total weekend withdrawal from a cash machine is $7,500. Head office is concerned that this estimate is too low. A random sample of total withdrawals on 36 weekends resulted in a sample mean of $9,100 and sample standard deviation of $3,700. At a 5% level of significance, can you conclude the average withdrawal should be greater than $7,500?
a) Properly state the hypotheses:
b) Calculate the p-value:
c) Conclusion:(Must be mathematically justified)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started