document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1172794>Question 1172794</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A study of sample of 196 bank accounts showed the average size of bank accounts is Rs. 7542. From the previous studies of bank accounts, it is known that the standard deviation is Rs. 2984. Test the hypothesis that μ = Rs. 8000 against the hypothesis μ ≠ 8000. Use a 1% level of significance.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #797976 by </B><A HREF=/tutors/aboutme.mpl?userid=Boreal><B>Boreal(15235)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Boreal><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Boreal><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=797976\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Ho: mu=8000<BR>\n" );
document.write( "Ha: mu NE 8000<BR>\n" );
document.write( "alpha=0.01 p{reject Ho|Ho true}<BR>\n" );
document.write( "test is a z.<BR>\n" );
document.write( "critical value is |z|>2.576<BR>\n" );
document.write( "calculation is z=(x-mean)/sigma/.sqrt(n)<BR>\n" );
document.write( "=(-458)*sqrt(196)/2984; sqrt (196)=14<BR>\n" );
document.write( "=2.149<BR>\n" );
document.write( "fail to reject Ho; insufficient evidence that the difference is > 8000 at the 1% level.<BR>\n" );
document.write( "p-value=0.03. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );