4. With many other options available, customers no longer let their money sit in a checking account. For many years the mean checking balance has been $3,500. Does the sample data indicate that the mean account balance has declined from this value?

Question

Olive Leonard

Business

7 July, 22:00

4. With many other options available, customers no longer let their money sit in a checking account. For many years the mean checking balance has been $3,500. Does the sample data indicate that the mean account balance has declined from this value?

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Answers (1)

Know the Answer?

Ahmed Ferguson · Answer 1

The answer is "No."

Explanation:

The anwer is "No" is because the amount $3,500.00 is a mean in the checking balance taken for many years.

Consequently, the mean checking balance for customers over the years have remained stable notwithstanding other available potion for withdrawal such as using Automated Teller Machine (ATM) cards for customers.