Analysis of Pennies In an analysis investigating the usefulness of pennies, the cents portions of 100 randomly selected credit card charges are recorded, and they have a mean of 47.6 cents and a...

Analysis of Pennies
In an analysis investigating the usefulness of pennies, the cents portions of 100 randomly selected credit card charges are recorded, and they have a mean of 47.6 cents and a standard deviation of 33.5 cents. If the amounts from 0 cents to 99 cents are all equally likely, the mean is expected to be 49.5 cents and the population standard deviation is expected to be 28.866 cents. Use a 0.01 significance level to test the claim that the sample is from a population with a standard deviation equal to 28.866 cents. If the amounts from 0 cents to 99 cents are all equally likely, is the requirement of a normal distribution satisfied? If not, how does that affect the conclusion?