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A sample of 49 account balances from a credit company showed an average daily balance of $880. The standard deviation of the population is known
A sample of 49 account balances from a credit company showed an average daily balance of $880. The standard deviation of the population is known to be $140. We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $935. Compute the test statistic. (note: enter answer as a number with two decimal places - such as 2.77 or 0.95)
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