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Perform the appropriate hypothesis test

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A major credit card company is studying the habits of its credit card holders and would like to determine whether the average monthly balance of credit card holders has fallen in recent years to less than $750. A random sample of 100 accounts is taken and the sample average is $714 with a sample standard deviation of $236.5. Perform the appropriate hypothesis test to determine if the company can conclude that the average has fallen to less than 750. Use an alpha of .05.

Reference no: EM132401578

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