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Fundamentals of Statistics | 4th Edition | ISBN: 9780321838704 | Authors: Michael Sullivan,III
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You Explain It! ATM Withdrawals According to the Crown ATM

Chapter 6, Problem 11AYU

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QUESTION:

You Explain It! ATM Withdrawals  According to the Crown ATM Network, the mean ATM withdrawal is $67. PayEase, Inc., manufacturers an ATM that allows one to pay bills (electric, water, parking tickets, and so on), as well as withdraw money. A review of 40 withdrawals shows the mean withdrawal is $73 from a PayEase ATM machine. Do people withdraw more money from a PayEase ATM machine?

(a) Determine the appropriate null and alternative hypotheses to answer the question.

(b) Suppose the P-value for this test is 0.02. Explain what this value represents.

(c) Write a conclusion for this hypothesis test assuming an \(\alpha=0.05\) level of significance.

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QUESTION:

You Explain It! ATM Withdrawals  According to the Crown ATM Network, the mean ATM withdrawal is $67. PayEase, Inc., manufacturers an ATM that allows one to pay bills (electric, water, parking tickets, and so on), as well as withdraw money. A review of 40 withdrawals shows the mean withdrawal is $73 from a PayEase ATM machine. Do people withdraw more money from a PayEase ATM machine?

(a) Determine the appropriate null and alternative hypotheses to answer the question.

(b) Suppose the P-value for this test is 0.02. Explain what this value represents.

(c) Write a conclusion for this hypothesis test assuming an \(\alpha=0.05\) level of significance.

ANSWER:

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