Let’s assume that Tuskegee Bank has an average balance of $480 and a standard deviation of...
-0.07 0.07 z 2. A bank has kept records of the checking balances of its customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48, and is a normally distributed population. A random sample of 144 checking accounts is selected a) What is the probability that the sample mean will be at least $306.60? b) What is the probability that the sample mean will be less than $308? c) What is...
Checking accounts at a certain bank have a mean balance of $664.14 and a standard deviation of $297.29. If a random sample of 34 accounts is selected, describe the sampling distribution of sample means. μx= σx=
1. A bank has kept records of the checking balances of its 4000 customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48. A random sample of 144 checking accounts is selected. Please answer the following questions. (a) What is the probability that the sample mean will be more than $309? (b) What is the probability that the sample mean will be between $293 and $307? (c) Suppose the number 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.
Point Estimate ± Margin of Error Let’s assume the population standard deviation is 4. For a 95% CI for the mean find the minimum sample size such that the margin of error is 1.5.
a-c please
Please solve the following questions related to Chapter 7 and 8: 1. A bank has kept records of the checking balances of its 4000 customers and determined that the average daily balance of its customers is $300 with a standard deviation of $48. A random sample of 144 checking accounts is selected. Please answer the following questions. (a) What is the probability that the sample mean will be more than $309? (b) What is the probability that the...
Answer and sketch questions 1 and 2
1. a) A random sample of size 36 is selected from a normally distributed population with a mean of 16 and a standard deviation of 3. What is the probability that the sample mean is somewhere between 15.8 and 16.2? b). A normally distributed population has a mean of 16 and a standard deviation of 3. What is the probability that a single event is somewhere between 15.8 and 16.2? 2. A bank...
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.
Assume population mean IQ is 100 standard deviation 12 sample of 25 students and average score was 108 If another sample of 25 students was selected, what is the probability that the sample would have a mean greater than 108?
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.