The mean balance of all checking accounts at a bank on December 31, 2009, was $850....

 

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The mean balance of all checking accounts at a bank on December 31, 2009, was $850. A random sample of 24 checking accounts taken recently from this bank gave a mean balance of $780 with a population standard deviation of $230. Using the 1% significance level, can you conclude that the mean balance of such accounts is different during this period? Explain your conclusion in words. The mean balance of all checking accounts at a bank on December 31, 2009, was $850. A random sample of 24 checking accounts taken recently from this bank gave a mean balance of $780 with a population standard deviation of $230. Using the 1% significance level, can you conclude that the mean balance of such accounts is different during this period? Explain your conclusion in words.