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A bank estimated the average amount of money withdrawn from its ATM machines over weekends exceeds $150 per customer with population standard deviation $35. A random sample of 49 customer transactions is selected and it shows a mean of $161.

(a) At a .04 level of significance is there evidence to support the bank's estimation? Answer the question by solving this as a hypothesis testing problem using the critical value approach of the four-step procedure.

(b) Use the p-value approach to solve the problem.

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Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M9985782

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