Answered: There is interest at the American…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

There is interest at the American Savings and Loan as to whether there is a difference between average daily balances in checking accounts that are joint accounts (two or more members per account) versus single accounts (one member per account). To test this, a random sample of checking accounts was selected with the following results:

Single Accounts (Sample Joint Accounts) -

Sample 1 -

n1 = 20, s1 = $256, x1 = $1,123

Sample 2 -

n2 = 30, s2 = $300, x2 = $1,245

Based upon these data, the critical value from the t-distribution for testing the difference between the two population means using a significance level of 0.05 is t = 1.677. Assume that the population standard deviations are unknown and equal.

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