The instructions are typed exactly, word for word, from the text book. I am just as confused as you are, if not more. I wish I could give you more info, but that is all I have. The book is poorly written. The book has not covered Test Statistics yet, therefore that is not needed. The three chapters leading up to this assignment are Survey of Probability Concepts, Discrete Probability Distribution, and Normal Probability Distribution. I think what they are asking is simple but I just can't figure out what they are asking. My mental screen is blank on this assignment. Any help I can get will be appreciated. They ask for the mean and standard deviation for the sample of 60 customers. I am confused as to what mean to calculate. In the last assignment, they asked for the standard deviation and mean of the checking account balances and the mean they wanted was by adding up all of the accounts and dividing by 60. I'm not sure if they want the same info or if they want me to multiply the total number of trials (60) by the probability. If this is the case, what would the probability be; would it be .25 because of the four different branches or what? I am confused and in need of any help you may be able to provide on this assignment.
See attached file for full problem description.
We use ANOVA to check if the account balances are significantly different in 4 regions.