Question
According to a 2010 BusinessWeek article, the average 401(k) account balance for individuals nearing retirement was $60,000. To test if this average has recently changed,
According to a 2010 BusinessWeek article, the average 401(k) account balance for individuals nearing retirement was $60,000. To test if this average has recently changed, suppose a sample of 30 people starting retirement was selected and it was found that the average 401(k) balance was $67,900. Assume the population standard deviation is $21,000. State the null and alternative hypothesis.
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Statistical Techniques in Business and Economics
Authors: Douglas A. Lind, William G Marchal
17th edition
1259666360, 978-1259666360
