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 entropy set for nose candy interior(a) commit contains a ingest of savings gradeing dollar amounts for 60 customers. This sample go out serve as the basis for query into determining the sample mean and nation mean of Century National Bank customers savings account balances. The research question is do Century National Bank customers average $1500 or more in their savings accounts? We will use the five-step hypothesis test for this research.
tint 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 have $1500 or more in their savings account. The numerical form of this statement is Ho ? 1500. The alternative hypothesis 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 conclude that this will be a left-sided test.
Step Two
The direct 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 because we are testing the means of the data from the bank and we have unknown variances. Such as that the population standard deviation is unknown and the population is assumed common with a sample of 60. The data of the bank will be carefully analyze and them the sample information will be plugged into the formula 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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