According to the Crown ATM Network, the mean ATM withdrawal is $67. PayEase, Inc., manufacturers an ATM that allows one to pay bills (electric, water, parking tickets, and so on), as well as withdraw money. A review of 40 withdrawals shows the mean withdrawal is $73 from a PayEase ATM machine. Do people withdraw more money from a PayEase ATM machine?
(a) Determine the appropriate null and alternative hypotheses to answer the question.
(b) Suppose the P-value for this test is 0.02. Explain what this value represents.
(c) Write a conclusion for this hypothesis test assuming an α = 0.05 level of significance.

  • CreatedApril 28, 2015
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