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: Based upon these data,assuming that the populations are normally distributed with equal variances,the test statistic for testing whether the two populations have equal means is approximately -1.49.

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:  Based upon these data,assuming that the populations are normally distributed with equal variances,the test statistic for testing whether the two populations have equal means is approximately -1.49.

Quizplus · Accepted Answer

The question statement provides a hypothesized test statistic and mentions the assumption of normality and equal variances. The test statistic is negative, indicating that the sample mean for joint accounts is lower than that for single accounts. Without further information on the significance level or the degrees of freedom, it is not possible to reach a conclusion about the null hypothesis. However, the statement is true that the test statistic is approximately -1.49.

There Is Interest at the American Savings and Loan as to Whether