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Author Question: A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The ... (Read 67 times)

urmomsucks

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on: Mar 25, 2023

Question 1

A random sample of 121 checking accounts at a bank showed an average daily balance of $300 and a standard deviation of $44. Develop a 95% confidence interval estimate for the mean of the population.



Question 2

A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The standard deviation of the population is known to be $66.

a.Is it necessary to know anything about the shape of the distribution of the account balances in order to make an interval estimate of the mean of all the account balances? Explain.
b.Find the standard error of the mean.
c.Give a point estimate of the population mean.
d.Construct a 80% confidence interval estimates for the mean.
e.Construct a 95% confidence interval for the mean.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by urmomsucks on Mar 25, 2023

sin

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Reply #1 on: Mar 25, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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urmomsucks

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Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

kalskdjl1212

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Reply 3 on: Yesterday
Excellent

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