A Credit Union Took a Random Sample of 40 Accounts $\mu$

question 12

Multiple Choice

A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution:
$2183 < $\mu$ (balance) < $3828.Which of the following is the correct interpretation?

• A)If we took random samples of checking accounts at this credit union, about nine out of ten of them would produce this confidence interval.
• B)About 9 out of 10 people have a checking account balance between $2183 and $3828.
• C)We are 90% confident that the mean checking account balance at this credit union is between $2183 and $3828, based on this sample.
• D)We are 90% sure that the mean balance for checking accounts in the sample was between $2183 and $3828.
• E)We are 90% confident that the mean checking account balance in the U.S.is between $2183 and $3828.

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Definitions:

Disgust

An emotional response of revulsion towards something considered offensive, distasteful, or unpleasant.

Superego

In Freudian psychoanalysis, a component of the psyche that operates as the ethical component of personality, providing moral standards and aspirations.

Collective Unconscious

A concept proposed by Carl Jung, referring to the part of the unconscious mind that is derived from ancestral memory and experience and is common to all humankind.

Ego

The part of the psyche that mediates between the conscious, the unconscious, and the external world, according to Freudian psychology.