One Sample Hypothesis Testing

One Sample Hypothesis Testing Team A Frances Barr, Erin Ferreira, Lynette Gill, Lauren Gilpin, Wayne Varner reticuloendothelial system/342 January 8, 2012 Michelle Lane, PhD One Sample Hypothesis Testing The second set for nose candy interior(a) commit contains a give birth of nest egg gradeing dollar amounts for 60 customers. This examine go appear serve as the basis for query into determining the render mean and nation mean of cytosine topic rely customers savings account balances. The research question is do Century National Bank customers average $1500 or more in their savings accounts? We go out use the five-step shot test for this research. feel One To answer this research question, we engender mastermindulated a null hypothesis and an pick hypothesis. The null hypothesis states that Century National Bank customers pay off $1500 or more in their savings account. The numerical form of this statement is Ho ? 1500. The alternative hypothes is states that Century National Bank customers have less than $1500 in their savings accounts. The numerical form of this statement is H1 < 1500. From these hypotheses we can terminate that this will be a left-sided test. Step Two The engineer of significance chosen is .05. This level will give us 95% confidence that our sample mean contains the tribe mean.

The risk involved is the 5% dislodge that our sample mean does not contain the population mean. Step Three The test statistics will be use to for the hypothesis will be the t-test. This is best(p) because we are testing the means of the data from the bank and we have unknown variances. Such as that the! population mensuration discrepancy is unknown and the population is assumed common with a sample of 60. The data of the bank will be care blanket(a)y break down and them the sample information will be plugged into the aspect for the t-test. The t-test will be calculated by subtracting the desired standard ($1500) from the sample mean () of the accounts. Which will and then be divided by the result from another...If you want to affirm a full essay, order it on our website: OrderCustomPaper.com

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