MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Step 1
The appropriate null and alternative hypotheses are given below:
Here, µ is the true mean balance.
Null hypothesis, H0: µ=$906
Alternative hypothesis, H1: µ<$906
Here, the level of significance is 0.01.
Degrees of freedom: 499 (=500–1)
Decision rule:
Reject H0 if P-value <level of significance.
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