Question: C.5* A store manager designs a new accounting system that will be cost effective if the mean monthly charge account balance is more than $170.

C.5* A store manager designs a new accounting system that will be cost effective if the mean monthly charge account balance is more than $170. A sample of 400 accounts is randomly selected. The sample mean balance is $178 and the sample standard deviation is $65. Can the manager conclude that the new system will be cost effective?

(a) Carry out a hypothesis test to answer this question. Use the cr : 0.05 level of significance.

(b) Compute the p-value of the test.

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