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2. An investment consultation firm claims that it will increase the returns on its clients' investments to a. average of 20% of the original investments, with minimal risk involved. In a random sample of 50 clients of the firm, the average return on investments with minimal risk was 18.5% of the original investment, with a standard deviation of 0.5%. a. Find the z-value, rounded to the nearest hundredth. b. Is there enough evidence to reject the firm's claim?

2. An investment consultation firm claims that it will increase the returns on its clients' investments to a. average of 20% of the original investments, with minimal risk involved. In a random sample of 50 clients of the firm, the average return on investments with minimal risk was 18.5% of the original investment, with a standard deviation of 0.5%. a. Find the z-value, rounded to the nearest hundredth. b. Is there enough evidence to reject the firm's claim?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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2. An investment consultation firm claims that it will increase the returns on its clients' investments to a. average of 20% of the original investments, with minimal risk involved. In a random sample of 50 clients of the firm, the average return on investments with minimal risk was 18.5% of the original investment, with a standard deviation of 0.5%. a. Find the z-value, rounded to the nearest hundredth. b. Is there enough evidence to reject the firm's claim?
Transcribed Image Text:2. An investment consultation firm claims that it will increase the returns on its clients' investments to a. average of 20% of the original investments, with minimal risk involved. In a random sample of 50 clients of the firm, the average return on investments with minimal risk was 18.5% of the original investment, with a standard deviation of 0.5%. a. Find the z-value, rounded to the nearest hundredth. b. Is there enough evidence to reject the firm's claim?
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