Hypothesis help

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Monkofpo

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Jul 13, 2016
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I have a hard time interpreting my results and I need help rejection.

A local bank claims that the standard deviation of the checking account balances of its customers is $275. A random sample of 41 accounts were checked and the standard deviation was $263.35. Using the method of your choice (P-value or rejection), test the hypotheses using a level of significance of 0.01. What is your decision regarding the null hypothesis?[FONT=&quot][/FONT]
[FONT=&quot]Null µ = 275[/FONT][FONT=&quot]Alternative µ ≠ 275
Test Statistic = 36.683
Lower Rejection Region = 22.16426
Upper Rejection Region= 63.69073975
Should I reject or fail to reject?
Also, should I support the banks claim?[/FONT]
 
Monkofpo said:
I have a hard time interpreting my results and I need help rejection.

A local bank claims that the standard deviation of the checking account balances of its customers is $275. A random sample of 41 accounts were checked and the standard deviation was $263.35. Using the method of your choice (P-value or rejection), test the hypotheses using a level of significance of 0.01. What is your decision regarding the null hypothesis?
Null µ = 275Alternative µ ≠ 275
Test Statistic = 36.683
Lower Rejection Region = 22.16426
Upper Rejection Region= 63.69073975
Should I reject or fail to reject?
Also, should I support the banks claim?
Click to expand...
What are your thoughts?

Please share your work with us ...even if you know it is wrong

If you are stuck at the beginning tell us and we'll start with the definitions.

You need to read the rules of this forum. Please read the post titled "Read before Posting" at the following URL:

http://www.freemathhelp.com/forum/announcement.php?f=33
 
Subhotosh Khan said:
What are your thoughts?

Please share your work with us ...even if you know it is wrong

If you are stuck at the beginning tell us and we'll start with the definitions.

You need to read the rules of this forum. Please read the post titled "Read before Posting" at the following URL:

http://www.freemathhelp.com/forum/announcement.php?f=33
Click to expand...
This is all my work. It is asking if I reject it or not. I got all the information needed but, I just can't figure out if I should reject or not. I think I fail to reject the null and I have insufficient evidence to support the claim. However, that doesn't not make sense to me. Main reason I am here.
 
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