Use the Given Degree of Confidence and Sample Data to Construct

question 26

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population mean µ. Assume that the population has a normal distribution.
-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 98% confidence interval for the true mean checking account balance for local customers.

• A) \(\$ 492.52 < \mu < \$ 835.76\)
• B) \(\$ 493.71 < \mu < \$ 834.57\)
• C) \(\$ 453.59 < \mu < \$ 874.69\)
• D) \(\$ 455.65 < \mu < \$ 872.63\)

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Definitions:

Thoracic Region

The part of the body that is located between the neck and the abdomen, housing the heart and lungs among other vital organs.

True Ribs

The first seven pairs of ribs, which are directly attached to the sternum via costal cartilages.

Vertebral Curves

The natural curvatures in the spine that help absorb shock and maintain balance in the human body.

Flexibility

The ability to move joints through their full range of motion; important in fitness, wellness, and preventing injuries.