A bank found that in recent years, the average monthly charge on its credit card was
$1,300.
With an improving economy, they suspect that this amount has increased. A sample of
45
customers resulted in an average monthly charge of
$1,326.35
with a standard deviation of
$182.92.
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