Question
i need help The mean balance of all checking accounts at a bank on June 30, 2020 was $1050.A random sample of 26 checking accounts
i need help
The mean balance of all checking accounts at a bank on June 30, 2020 was $1050.A random sample of 26 checking accounts taken recently from this bank gave a mean balance of $950.We would like to test at the 2.5% significance level that the mean balance of such accounts has decreased.These bank balances follow an approximately normal distribution.
Ho: mean>$1050 and Ha: mean < $1050.
a.This hypothesis test would be considered a____________________test.Insert right-tail, left-tail, or two-tail.
b.This hypothesis test would be a________________.Insertz-test or t-test.
c.If the test decision is to not reject Ho, then it has been decided the mean balance of all checking accounts at the bank________________decreased from the mean balance calculated on June 30, 2020. Insert "has" or "has not" (no quotes).
d.If the testdecision is not reject Ho,then the possible error is______________________.Insert type-1 or type-2.
e.The probability of the error identified in part d is_____________________________.
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