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A sample of 64 account balances from a credit company showed an average daily balance of $1155. The standard deviation of the population is known to be $200. We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $1100. (In other words, we are testing the Null Hypothesis that the mean account balance for the population is $1100) Assuming a two-tailed test, which of the following is true The Null Hypothesis cannot be rejected at the 5% significance level The Null Hypothesis cannot be rejected at the 10% significance level The Null Hypothesis cannot be rejected at the 20% significance level The Null Hypothesis can be rejected at the 2% significance level The Null Hypothesis can be rejected at the 1% significance level

A sample of 64 account balances from a credit company showed an average daily balance of $1155. The standard deviation of the population is known to be $200. We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $1100. (In other words, we are testing the Null Hypothesis that the mean account balance for the population is $1100) Assuming a two-tailed test, which of the following is true The Null Hypothesis cannot be rejected at the 5% significance level The Null Hypothesis cannot be rejected at the 10% significance level The Null Hypothesis cannot be rejected at the 20% significance level The Null Hypothesis can be rejected at the 2% significance level The Null Hypothesis can be rejected at the 1% significance level

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.2: Expected Value And Variance Of Continuous Random Variables
Problem 10E
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A sample of 64 account balances from a credit company showed an average daily balance of $1155. The standard deviation of the population is known to be $200. We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $1100. (In other words, we are testing the Null Hypothesis that the mean account balance for the population is $1100) Assuming a two-tailed test, which of the following is true The Null Hypothesis cannot be rejected at the 5% significance level The Null Hypothesis cannot be rejected at the 10% significance level The Null Hypothesis cannot be rejected at the 20% significance level The Null Hypothesis can be rejected at the 2% significance level The Null Hypothesis can be rejected at the 1% significance level
Transcribed Image Text:A sample of 64 account balances from a credit company showed an average daily balance of $1155. The standard deviation of the population is known to be $200. We are interested in determining if the mean of all account balances (i.e., population mean) is significantly different from $1100. (In other words, we are testing the Null Hypothesis that the mean account balance for the population is $1100) Assuming a two-tailed test, which of the following is true The Null Hypothesis cannot be rejected at the 5% significance level The Null Hypothesis cannot be rejected at the 10% significance level The Null Hypothesis cannot be rejected at the 20% significance level The Null Hypothesis can be rejected at the 2% significance level The Null Hypothesis can be rejected at the 1% significance level
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