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Part 1
A bank found that in recent? years, the average monthly charge on its credit card was
?$1 comma 3001,300.
With an improving? economy, they suspect that this amount has increased. A sample of
4040
customers resulted in an average monthly charge of
?$1 comma 326.251,326.25
with a standard deviation of
?$182.51182.51.
Do these data provide statistical evidence that the average monthly charge has? increased? Formulate the appropriate hypothesis test and draw a conclusion. Use a level of significance of 0.05.