[Solved] A local bank needs information concerning the standard deviation of the checking account balances of its customers. From previous information it
Question: A local bank needs information concerning the standard deviation of the checking account balances of its customers. From previous information it was assumed to be $250. A random sample of 61 accounts was checked. The standard deviation was $286.20. At a = 0.01, test the bank's assumption. Assume that the account balances are normally distributed.
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