1. A sample of 55 account balances of a credit card company showed a sample mean balance of $1,050. Assume that the population standard deviation is$175. At a 5% level of significance, test to determine if the population mean account balance is significantly different from $1,000. What is your conclusion? HTMI Editora

MATLAB: An Introduction with Applications
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1. A sample of 55 account balances of a credit card company showed a sample mean balance
of $1,050. Assume that the population standard deviation is$175. At a 5% level of
significance, test to determine if the population mean account balance is significantly
different from $1,000. What is your conclusion?
HTMI Editora
Transcribed Image Text:1. A sample of 55 account balances of a credit card company showed a sample mean balance of $1,050. Assume that the population standard deviation is$175. At a 5% level of significance, test to determine if the population mean account balance is significantly different from $1,000. What is your conclusion? HTMI Editora
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