SOLUTION: the credit manager of large department store claims that the mean balance for the store charge account costumer is 410. an independent auditor selects a random sample of 18 account

Question 937194: the credit manager of large department store claims that the mean balance for the store charge account costumer is 410. an independent auditor selects a random sample of 18 accounts and finds a mean balance of 511.33 and a standard deviation of of 183.75 If the manager claim is not supported by these data the auditor intends to examine all charge account balances. if the population of account balances is assumed to be approximately normally distributed. what action should the auditor take ?
a) find the null and alternative hypothesis

b) find the alpha

c) the answer and solution

thank you

Answer by oscargut(2103) (Show Source): You can put this solution on YOUR website!
Answers:
a)
H0: mu = 410
H1: mu not equal to 410
b)
Alpha is not given, usually you can take alpha = 0.05
If you need more help or details you can contact me at:
mthman@gmail.com
Thanks

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