A company\'s average accounts receivable per customer is $132.54. After a proble

Question

A company's average accounts receivable per customer is $132.54. After a problem in the automated accounting software is suspected, a random sample of 38 accounts reveals a sample mean of $143.55 and a sample standard deviation of $38.29. After running a two-sided hypothesis test of the hypothesis that the average accounts receivable has changed, what is the best conclusion (using a 95% confidence level)? There is not sufficient evidence that the average accounts receivable has changed. The average accounts receivable is still $132.54. The average accounts receivable has changed. The average accounts receivable is at least $143.55.

Explanation / Answer

Test statistic t= (xbar-132.54)/(s/sqrt(n))

=(143.5-132.54)/(38.29/sqrt(38))

=1.7645

Degree of freedom=n-1=38-1=37

Two sided p-value=TDIST(1.7645,37,2)=0.0859

As p-value>0.05, we have not enough evidence to reject null hypothesis

So, option-1 is the answer

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