Question: According to Moebs Services Inc the cost of an individual

According to Moebs Services Inc., the cost of an individual checking account at U.S. community banks to these banks was between $175 and $200 in 2011 (Time, November 21, 2011). Suppose that the average annual cost of individual checking accounts at U.S. community banks to these banks was $190 in 2011. A recent sample of 40 individual checking accounts selected from U.S. community banks showed that they cost these banks an average of $211 per year with a standard deviation of $35.
a. Using α = .025, can you conclude that the current average annual cost of individual checking accounts at U.S. community banks to these banks is higher than $190? Use the critical-value approach.
b. Find the range of the p-value for the test of part a. What is your conclusion with α =.025?

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  • CreatedAugust 25, 2015
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