SOLUTION: a manager of the credit department for an oil company would like to determine whether the mean monthly balance of credit card holders is equal to $75. An auditor selects a random
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Question 387390: a manager of the credit department for an oil company would like to determine whether the mean monthly balance of credit card holders is equal to $75. An auditor selects a random sample of 100 accounts and finds that the mean owed is $83.40 with a sample standard deviation of $23.65. If you were to conduct a test to determine whether the mean balance is different from $75 and decided to reject the null hypothesis, what conclusion could you draw? Answer by devintyler73(1) (Show Source):
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