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Homework answers / question archive / A manager at a Credit Union claims that the average total weekend withdrawal from a cash machine is $7,500

A manager at a Credit Union claims that the average total weekend withdrawal from a cash machine is $7,500

Statistics

A manager at a Credit Union claims that the average total weekend withdrawal from a cash machine is $7,500. Head office is concerned that this estimate is too low. A random sample of total withdrawals on 36 weekends resulted in a sample mean of $8,600 and sample standard deviation of $3,700. At a 2% level of significance, can you conclude the average withdrawal should be greater than $7,500? 

a) Properly state the hypotheses: 

b) Calculate the p-value (SHOW ALL WORK): 

c) Conclusion: (Must be mathematically justified) 

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