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Question
The loan manager for State Bank and Trust has claimed that the mean loan balance on outstanding loans at the bank is over $14,500. To test this at a significance level of 0.05, a random sample of n = 100 loan accounts is selected. Assuming that the population standard deviation is known to be $3,000, the null and alternative hypotheses to be tested are:
H0: μ ≤ $14,500
HA: μ > $14,500
Answer
This answer is hidden. It contains 13 characters.
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