Suppose That an Internal Report Submitted to the Managers at a Bank

question 19

Multiple Choice

Suppose that an internal report submitted to the managers at a bank in Boston showed that with 95 percent confidence, the proportion of the bank's customers who also have accounts at one or more other banks is between .45 and .51. Given this information, what sample size was used to arrive at this estimate?

• A) About 344
• B) Approximately 1,066
• C) Just under 700
• D) Can't be determined without more information.

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Definitions:

Defined Contribution Pension Plan

A retirement plan in which the employer, employee, or both make contributions on a regular basis, but final benefits depend on the plan's investment performance.

Northern Trust

A financial services company providing wealth management, asset servicing, and banking solutions.

Vacation Pay

Compensation employees receive for their time off work, as determined by their employment contracts or company policies.

Defined Contribution Pension Plan

A retirement plan where the employer, employee, or both make contributions, and the final benefits depend on the investment's performance.