A savings and loan association needs information concerning the checking account balances of its local customers....
A savings and loan association needs information concerning the checking account balances of its local customers. A random sample of 14 accounts was checked and yielded a mean balance of $664.14 and a standard deviation of $297.29. Find a 99% confidence interval for the true mean checking account balance for local customers.
What is the t-critical value?
What is the margin of error(E) rounded to two decimal places?
What is the confidence interval? Put in the interval form (low to high).
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A savings and loan association needs information concerning the
checking account balances of its local customers....
Construct a confidence interval for the population mean. A savings and loan association needs information concerning...
Construct a confidence interval for the population mean. A savings and loan association needs information concerning the checking account balances of its local customers. A random sample of 14 accounts was checked and yielded a mean balance of $664.14 and a standard deviation of $297 29. Find a 99% confidence interval for the true mean checking account balance for local customers. What is the t-Critical Value? What is the Margin of Error (E) rounded to TWO decimal places? What is...
12. + -/1 points My Notes A local bank needs information concerning the savings account daily...
12. + -/1 points My Notes A local bank needs information concerning the savings account daily balances of its customers. A random sample of 100 accounts is checked. The mean balance is $1500 with standard deviation $150. We wish to find a 95% confidence interval for the true mean daily balance in savins accounts. They found that a 95% confidence interval for the mean daily savings account balance was between $1102.37 to $1697.63. Which of the following is a correct...
Section 8.3 Examples SHORT ANSWER. Write the word or phrase that best completes each statement or...
Section 8.3 Examples SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Provide an appropriate response. 1) A sociologist develops a test to measure attitudes about public transportation, and 27 randomly selected subjects are given the test. Their mean score is 76.2 and their standard deviation is 21.4. Construct the 95% confidence interval for the mean score of all such subjects. 2) A savings and loan association needs information concerning the checking account...
Patty, a branch manager of a bank, would like a quick estimate of the mean checking account balance of all checking account customers. A random sample of checking 32 account balances results in a sample mean of $312,590.50 and a standard deviation of $52,
Patty, a branch manager of a bank, would like a quick estimate of the mean checking account balance of all checking account customers. A random sample of checking 32 account balances results in a sample mean of $312,590.50 and a standard deviation of $52,100. Calculate and interpret a 95% confidence interval for the mean checking account balance. Round off all answers to two decimal places with complete solutions.
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 15)...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 15) 15) A local bank needs information concerning the checking account balances of its customers. A random sample of 15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98% confidence interval for the true mean. Assume that the account balances are normally distributed. A) ($238.23, $326.41) B) ($487 31, $563.80) © ($513.17, $860.33) D) ($326.21, $437.90)
11. Do one of the following, as appropriate: (a) Find the critical value z a, (b)...
11. Do one of the following, as appropriate: (a) Find the critical value z a, (b) find the critical value (ipoint tap, (c) state that neither the normal nor the t distribution applies. 99%; n = 17, σ is unknown; population appears to be normally distributed. O zan 2.583 O tan a/2 -2.898 O ta/2-2921 O za/2#2567 12. Do one of the following, as appropriate: (a) Find the critical value za/2, (b) find the critical value (point) tan,(c) state that...
2.5758 An automobile manufacturer would like to know what proportion of its customers are not satisfied...
2.5758 An automobile manufacturer would like to know what proportion of its customers are not satisfied with the service provided by the local dealer. The customer relations department will survey a random sample of customers and compute a 99% confidence interval for the proportion who are not satisfied. (a) Past studies suggest that this proportion will be about 0.19. Find the sample size needed if the margin of the error of the confidence interval is to be about 0.015. (You...
4. A simple random sample of 100 customers is selected from an account receivable portfolio and...
4. A simple random sample of 100 customers is selected from an account receivable portfolio and the sample mean account balance is $3000. The population standard deviation σ is known to be $300. ( 8 marks) a. Construct a 90% confidence interval for the mean account balance of the population. b. What is the margin of error for estimating the mean account balance at the 90% confidence level? c. Construct a 90% confidence interval for the mean account balance of...
Data were collected on the amount spent by 64 customers for lunch at a major Houston...
Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based upon past studies the population standard deviation is known with ơ $5. Click on the datafile logo to reference the data. DATA file Round your answers to two decimal places. Use the critical value with three decimal places. a. At 99% confidence, what is the margin of error? . Develop a 99% confidence...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the ques...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Provide an appropriate response. 1) Many people think that a national lobby's successful fight against gun control legislation is reflecting the will of a minority of Americans. A random sample of 4000 citizens yielded 2250 who are in favor of gun control legislation. Estimate the true proportion of all Americans who are in favor of gun control legislation using a 98% confidence interval. Express the...
Construct a confidence interval for the population mean. A savings and loan association needs information concerning the checking account balances of its local customers. A random sample of 14 accounts was checked and yielded a mean balance of $664.14 and a standard deviation of $297 29. Find a 99% confidence interval for the true mean checking account balance for local customers. What is the t-Critical Value? What is the Margin of Error (E) rounded to TWO decimal places? What is...
12. + -/1 points My Notes A local bank needs information concerning the savings account daily balances of its customers. A random sample of 100 accounts is checked. The mean balance is $1500 with standard deviation $150. We wish to find a 95% confidence interval for the true mean daily balance in savins accounts. They found that a 95% confidence interval for the mean daily savings account balance was between $1102.37 to $1697.63. Which of the following is a correct...
Section 8.3 Examples SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question. Provide an appropriate response. 1) A sociologist develops a test to measure attitudes about public transportation, and 27 randomly selected subjects are given the test. Their mean score is 76.2 and their standard deviation is 21.4. Construct the 95% confidence interval for the mean score of all such subjects. 2) A savings and loan association needs information concerning the checking account...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 15) 15) A local bank needs information concerning the checking account balances of its customers. A random sample of 15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98% confidence interval for the true mean. Assume that the account balances are normally distributed. A) ($238.23, $326.41) B) ($487 31, $563.80) © ($513.17, $860.33) D) ($326.21, $437.90)
11. Do one of the following, as appropriate: (a) Find the critical value z a, (b) find the critical value (ipoint tap, (c) state that neither the normal nor the t distribution applies. 99%; n = 17, σ is unknown; population appears to be normally distributed. O zan 2.583 O tan a/2 -2.898 O ta/2-2921 O za/2#2567 12. Do one of the following, as appropriate: (a) Find the critical value za/2, (b) find the critical value (point) tan,(c) state that...
Data were collected on the amount spent by 64 customers for lunch at a major Houston restaurant. These data are contained in the file named Houston. Based upon past studies the population standard deviation is known with ơ $5. Click on the datafile logo to reference the data. DATA file Round your answers to two decimal places. Use the critical value with three decimal places. a. At 99% confidence, what is the margin of error? . Develop a 99% confidence...
MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. Provide an appropriate response. 1) Many people think that a national lobby's successful fight against gun control legislation is reflecting the will of a minority of Americans. A random sample of 4000 citizens yielded 2250 who are in favor of gun control legislation. Estimate the true proportion of all Americans who are in favor of gun control legislation using a 98% confidence interval. Express the...
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