Provide an Appropriate Response $\$ 686.75$ With a Standard Deviation Of $\$ 256.20$

question 27

Multiple Choice

Provide an appropriate response.
-A local bank needs information concerning the savings account balances of its customers. A random sample of 15 accounts was checked. The mean balance was $\$ 686.75$ with a standard deviation of $\$ 256.20$ . Find a $98 \%$ confidence interval for the true mean. Assume that the account balances are normally distributed.

• A) \(( \$ 513.17 , \$ 860.33 )\)
• B) \(( \$ 238.23 , \$ 326.41 )\)
• C) \(( \$ 326.21 , \$ 437.90 )\)
• D) \(( \$ 487.31 , \$ 563.80 )\)

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Definitions:

Cash Dividends

Payments made by a corporation to its shareholder members. It is the share of profits and retained earnings that the company pays out to its investors.

Operating Activities

Business actions related directly to the production, sale, and delivery of goods and services, as distinguished from financing and investing activities.

Cash Dividends

Payments made by a corporation to its shareholders, typically out of its profits or reserves.

Accrued Liabilities

Financial obligations that a company has incurred during a period but has not yet paid by the end of that period.