An online stock trading company makes part of their revenue from clients when the clients trade stocks therefore, it is important to the company to have an good idea of how many trades its clients are making in a given year. In a sample of 98 clients of an online stock trading company, the average number of trades per year was 85 with a standard deviation of 17. If you were to test the hypothesis that the average number of trades per year is greater than the previous year when the average number of trades was 84 (using the 10% level of significance), what is the critical value? (please round your answer to 2 decimal places)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
icon
Related questions
Question

An online stock trading company makes part of their revenue from clients when the clients trade stocks therefore, it is important to the company to have an good idea of how many trades its clients are making in a given year. In a sample of 98 clients of an online stock trading company, the average number of trades per year was 85 with a standard deviation of 17. If you were to test the hypothesis that the average number of trades per year is greater than the previous year when the average number of trades was 84 (using the 10% level of significance), what is the critical value? (please round your answer to 2 decimal places)

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL