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Q2 ATMs must be stocked with enough cash to satisfy customers making withdrawals over an entire weekend. But if too much cash is unnecessarily kept in the ATMs, the bank is forgoing 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 Suppose that at a particular branch the population mean amount of money withdrawn from ATMs per customer transaction over the weekend is $160 with a population standard deviation of $30. a) b) If a random sample of 36 customer transactions is examined and the sample mean withdrawal is $148, is there evidence to believe that the population average withdrawal is less than $160? (Use a 0.05 level of significance.) Compute the p-value and interpret its meaning.

Q2 ATMs must be stocked with enough cash to satisfy customers making withdrawals over an entire weekend. But if too much cash is unnecessarily kept in the ATMs, the bank is forgoing 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 Suppose that at a particular branch the population mean amount of money withdrawn from ATMs per customer transaction over the weekend is $160 with a population standard deviation of $30. a) b) If a random sample of 36 customer transactions is examined and the sample mean withdrawal is $148, is there evidence to believe that the population average withdrawal is less than $160? (Use a 0.05 level of significance.) Compute the p-value and interpret its meaning.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Q2 ATMs must be stocked with enough cash to satisfy customers making withdrawals over an entire weekend. But if too much cash is unnecessarily kept in the ATMs, the bank is forgoing 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 Suppose that at a particular branch the population mean amount of money withdrawn from ATMs per customer transaction over the weekend is $160 with a population standard deviation of $30. a) b) If a random sample of 36 customer transactions is examined and the sample mean withdrawal is $148, is there evidence to believe that the population average withdrawal is less than $160? (Use a 0.05 level of significance.) Compute the p-value and interpret its meaning.
Transcribed Image Text:Q2 ATMs must be stocked with enough cash to satisfy customers making withdrawals over an entire weekend. But if too much cash is unnecessarily kept in the ATMs, the bank is forgoing 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 population standard deviation of $30. a) b) If a random sample of 36 customer transactions is examined and the sample mean withdrawal is $148, is there evidence to believe that the population average withdrawal is less than $160? (Use a 0.05 level of significance.) Compute the p-value and interpret its meaning.
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