A Credit Union Took a Random Sample of 40 Accounts $90 \%$

question 17

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) $< \$ 3828$ .

• 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) We are \(90 \%\) confident that the mean checking account balance at this credit union is between \(\$ 2183\) and \(\$ 3828\), based on this sample.
• C) We are \(90 \%\) confident that the mean checking account balance in the U.S. is between \(\$ 2183\) and \$3828.
• D) About 9 out of 10 people have a checking account balance between \(\$ 2183\) and \(\$ 3828\).
• E) We are \(90 \%\) sure that the mean balance for checking accounts in the sample was between \(\$ 2183\) and \(\$ 3828\)

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Definitions:

External Suppliers

Third-party companies or entities that provide products or services to another company as part of the supply chain, outside of the purchasing company's organization.

Many-Suppliers Strategy

A procurement approach where a company sources its materials or products from a large number of suppliers to enhance competition and reduce supply risk.

Quality

The degree to which a set of inherent characteristics fulfills requirements or expectations.

Supply Chain

The entire system of producing and delivering a product or service, from the raw material stage to the end user, encompassing all processes and logistics.