As part of an annual review of its accounts, a discount brokerage selects a random sample...

Question

Question

As part of an annual review of its accounts, a discount brokerage selects a random sample...

As part of an annual review of its accounts, a discount brokerage selects a random sample of 25 customers. Their accounts are reviewed for total account valuation, which showed a mean of $36,300, with a sample standard deviation of $8,950. (Use t Distribution Table.)

What is a 90% confidence interval for the mean account valuation of the population of customers? (Round your answers to the nearest dollar amount.)

math Statistics-And-Probability

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Add a comment

Answer 2

Similar Homework Help Questions

As part of an annual review of its accounts, a discount brokerage selects a random sample...

As part of an annual review of its accounts, a discount brokerage selects a random sample of 28 customers. Their accounts are reviewed for total account valuation, which showed a mean of $36,700, with a sample standard deviation of $8,500. (Use t Distribution Table.) What is a 98% confidence interval for the mean account valuation of the population of customers? (Round your answers to the nearest dollar amount.) 98% confidence interval for the mean account valuation is between $ and...
As part of an annual review of its accounts, a discount brokerage selects a random sample...

As part of an annual review of its accounts, a discount brokerage selects a random sample of 29 customers. Their accounts are reviewed for total account valuation, which showed a mean of $31,500, with a sample standard deviation of $8,650. (Use t Distribution Table.) What is a 95% confidence interval for the mean account valuation of the population of customers? (Round your answers to the nearest dollar amount.)
As a part of its annual review of accounts, a brokerage firm selects a random sample...

As a part of its annual review of accounts, a brokerage firm selects a random sample of 15 customers. The average account value for these customers was $32,000 with a standard deviation of $8,200. Determine the 95% confidence interval for the account value.

please include sketch, thanks! A discount brokerage selected a random sample of 64 customers and reviewed...

please include sketch, thanks! A discount brokerage selected a random sample of 64 customers and reviewed the value of their accounts. The mean was $32,000 with a population standard deviation of $8,200. What is a 90% confidence interval for the mean account value of the population of customers? Answers Point Estimate Standard Error Margin of Error Alpha Critical Value Confidence Interval
1. A random sample of 82 customers, who visited a department store, spent an average of...

1. A random sample of 82 customers, who visited a department store, spent an average of $71 at this store. Suppose the standard deviation of expenditures at this store is O = $19. What is the e 98% confidence interval for the population mean? 2. A sample of 25 elements produced a mean of 123.4 and a standard deviation of 18.32 Assuming that the population has a normal distribution, what is the 90% confidence interval for the population mean? 3....
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...

A random sample of 144 checking accounts at a bank showed an average daily balance of...

A random sample of 144 checking accounts at a bank showed an average daily balance of $295. The standard deviation of the population is known to be $72. Please answer the following questions: (a) Find the standard error of the mean. (b) Give a point estimate of the population mean. (c) Construct a 95% confidence interval estimates for the mean.
a-c please 2. A random sample of 144 checking accounts at a bank showed an average...

a-c please 2. A random sample of 144 checking accounts at a bank showed an average daily balance of $295. The standard deviation of the population is known to be $72. Please answer the following questions: (a) Find the standard error of the mean. (b) Give a point estimate of the population mean. (c) Construct a 95% confidence interval estimates for the mean.
The average repair cost of a random sample of 25 refrigerators is $150 with a standard...

The average repair cost of a random sample of 25 refrigerators is $150 with a standard deviation $15. What is the margin of error of the 90% confidence interval for the population mean cost constructed by using this sample? Enter a dollar amount, round to the nearest cents

A simple random sample of 900 elements generates a sample proportion 0.72 a. Provide the 90%...

A simple random sample of 900 elements generates a sample proportion 0.72 a. Provide the 90% confidence interval for the population proportion (to 4 decimals). b. Provide the 99% confidence interval for the population proportion (to 4 decimals). How large a sample should be selected to provide a 95% confidence interval with a margin of error of 3? Assume that the population standard deviation is 50, Round your answer to next whole number. Sales personnel for Skillings Distributors submit weekly...

As part of an annual review of its accounts, a discount brokerage selects a random sample...

Homework Answers