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Average savings account balance

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Question: At the first state bank the average savings account balance in 2004 was $1300 with a standard deviation of $80. A random sample of 45 savings account balances for 2005 yielded a mean of $1350.

At the alpha=01 significance level can we conclude that in 2005 the mean savings account balance differs from the mean savings account balance in 2004?

Reference no: EM131319343

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