Nafuz manages the credit department for a grocery store chain in the province, and would like to
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Question:
Nafuz manages the credit department for a grocery store chain in the province, and would like to determine whether the mean monthly balance of credit card holders is at most $95. A random sample of 64 accounts selected indicated that the mean owed is $98.50 with a sample standard deviation of $24.56. If she wanted to test the mean balance is in excess of $95 and decided to reject the null hypothesis, what conclusion could she reach?
a.
sufficient evidence to support the mean balance is not in excess of $95.
b.
no evidence to support the mean balance is not $95.
c.
no evidence to support the mean balance is $95.
d.
sufficient evidence to support the mean balance is in excess of $95.
e.
none of the suggested answers are correct.
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