A bank found that in recent years, the average monthly charge on its credit card was $1,400. With an improving economy, they suspect that this amount has increased. A sample of 40 customers resulted...

Extracted text: A bank found that in recent years, the average monthly charge on its credit card was $1,400. With an improving economy, they suspect that this amount has increased. A sample of 40 customers resulted in an average monthly charge of $1,425.58 with a standard deviation of $183.34. 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. Is there sufficient evidence at the 0.05 level of significance that the average monthly charge has increased? Determine the null hypothesis, Ho, and the alternative hypothesis, H1. Ho Question Viewer (Type whole numbers.)