A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...

A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ Ltd and the average account balance is $650. The population standard deviation o is known to be $70. Test the hypothesis that the population mean account balance is greater than a. $620 using the p-value approach and a 0.05 level of significance. b. Test the hypothesis that the population mean account balance is less than $800 using the critical value approach and a 0.05 level of significance. Test the hypothesis that the population mean account balance is different from $750. using the p-value approach and a 0.05 level of significance. C.

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A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ...

A simple random sample of 50 accounts is taken from an account receivables portfolio of XYZ Ltd and the average account balance is $650. The population standard deviation σ is known to be $70. (6 points) Test the hypothesis that the population mean account balance is greater than $620 using the p-value approach and a 0.05 level of significance. Test the hypothesis that the population mean account balance is less than $800 using the critical value approach and a 0.05...

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