11-With many other options available, customers no longer let their money sit in a checking account. For many years the mean checking balance has been $1,600. Does the sample data indicate that the mean account balance has declined from this value? Hint: Use hypothesis testing. What is the p-value? Will the Null hypothesis be rejected at significance level of 1%, 2% 5% or 7%?
12-Is there sufficient evidence to conclude that 50% or more of customers use debit cards? Use a significance level of 1%. What is the p-value? Will the Null hypothesis be rejected at significance level of 1%, 2% 5% or 7%?
I need the worked out answers to problems 11 and 12 of the attached papers... All the needed info is attached... The last page has notes from class on problems 11 and 12. Thanks a million :)
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