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(See Steps) (10) The credit department of a company calculates that it would only make a profit if the average balance in its accounts is more than $1,500.

Question: (10) The credit department of a company calculates that it would only make a profit if the average balance in its accounts is more than $1,500. An accountant samples 100 accounts and finds the sample mean to be $1,560, with a sample standard deviation of $175. Test the null hypothesis that that the company is making a profit at a 5% level of significance.

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(See Steps) (10) The credit department of a company calculates that it would only make a profit if the average balance in its accounts is more than $1,500.

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