Formulate the hypotheses to determine the mean of all account balances, homework help

in CIPD HR Experts UK/by CIPD HELP

Question 1

A sample of 81 account balances of a credit company showed an average balance of $1,200 with a standard deviation of $126.

Formulate the hypotheses that can be used to determine whether the mean of all account balances is significantly different from $1,150.

Compute the test statistic.

Using the p-value approach, what is your conclusion? Let α = .05.

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Formulate the hypotheses to determine the mean of all account balances, homework help

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