c Test the hypothesis that the population mean account balance is different

# C test the hypothesis that the population mean

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c. Test the hypothesis that the population mean account balance is different from \$800. using the p-value approach and a 0.05 level of significance. 3. A simple random sample of 80 customers is taken from a customer information file and the average age is 34. The population standard deviation σis unknown. Instead the sample standard deviation s is also calculated from the sample and is found to be 5.5. (6 points) a. Test the hypothesis that the population mean age is greater than 30 using the critical value approach and a 0.05 level of significance. b. Test the hypothesis that the population mean age is less than 37 using the p-value approach and a 0.05 level of significance.
BUSI 1013: S TATISTICS FOR B USINESS 5 c. Test the hypothesis that the population mean age is different from 31 using the p-value approach and a 0.05 level of significance. 4. Use the data in BUSI1013 Bank Dataset.xlsx (from Unit 1 Exercise Question 2) to answer this question. (4 points) a. Perform a statistical test to see whether the average Increase in Loans in the population is higher than \$7.5 (thousands). Use the p-value approach and a 0.05 level of significance.