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ATMs must be stocked with enough cash to satisfy customers making withdrawals over an entire weekend. However, if too much cash is unnecessarily kept in
ATMs must be stocked with enough cash to satisfy customers making withdrawals over an entire weekend. However, if too much cash is unnecessarily kept in the ATMsthe bank is foregoing the opportunity of investing the money and earning interest.Suppose that at a particular branch the population mean amount of money withdrawn from ATMs per customer transaction over the weekend is $160 with a standard deviation of $30.If a random sample of 36 customer transactions indicates that the sample mean withdrawal amount is $172. is there evidence at the 5% level to believe that the population mean withdrawalamount is no longer $160?Calculate and interpret the p-value of the test. A politician claims that the mean income of all working mothers has increased.A survey of 20 working mothers reveals an average of $400 per week.In a previous census.this population showed a mean income of $380 and a standard deviation of $50.Test the claim at the 1% level of significance
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