A brokerage firm needs information concerning the standard deviation of the account balances of its customers.From previous information it was assumed to be $250. A random sample of 61 accounts was checked. Thestandard deviation was $286.20. At α = 0.01, test the firmʹs assumption. Assume that the account balances arenormally distributed.

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The Answer of A brokerage firm needs information concerning the standard deviation of the account balances of its customers.From previous information it was assumed to be $250. A random sample of 61 accounts was checked. Thestandard deviation was $286.20. At α = 0.01, test the firmʹs assumption. Assume that the account balances arenormally distributed.

A Brokerage Firm Needs Information Concerning the Standard Deviation of the Account