Question

13: A national survey found that the average number of banking services used was 4.1 per month. An Analyst for the Malco State Bank sampled its customers, and generated the following output for a one sample test in Data Analysis. If a=.05, do the customers at Malce State Bank use banking services more than the national average of 4.1 times per month? Sample Hypothesized mean 4.1 5.026 4.736 Mean Variance Observations df t Stat P(TC=t) one-tail t Critical one-tail P(TC=t) two-tail t Critical two-tail 76 3.733 0.0002 1.665 0.0004 1.992 The decision rule, using the critical value of t, is: A: Reject Ho if tcals < 1.665 B: Reject Ho if tcalc > 1.665 C: Reject Ho if tcals <-1.992 or toals > 1.992 D: Reject Ho if tcals <-1.665.

Answer 1

$\mu$ : Average number of banking services used by customers of Malco State Bank per month

We wish to test

Hol = 4.1 Vs H1: > 4.1

level of significance = 0.05

Since it is Right tailed (one tailed) test Critical value should be

$Critical\;Value=t_{1-\alpha,df}=t_{1-0.05,76}=t_{0.95,76}=1.665$$Critical\;Value=1.665$

$Correct\;option\;is\;\;\bold{B)\;Reject\; H_0\; if \;t_{calc}>1.665}$