In a study of consumer credits, 25 randomly selected credit holders were surveyed, and the mean amount of credit in the past year was found to be $3300 and the standard deviation of $420. Use significance level α=0.05 to test that the mean is less than $3500.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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In a study of consumer credits, 25 randomly selected credit holders were surveyed, and
the mean amount of credit in the past year was found to be $3300 and the standard
deviation of $420. Use significance level α=0.05 to test that the mean is less than $3500.

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