Use the Given Degree of Confidence and Sample Data to Construct

question 56

Multiple Choice

Use the given degree of confidence and sample data to construct a confidence interval for the population mean $\mu$ . 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) \(\$ 453.59 < \mu < \$ 874.69\)
• B) \(\$ 455.65 < \mu < \$ 872.63\)
• C) \(\$ 493.71 < \mu < \$ 834.57\)
• D) \(\$ 492.52 < \mu < \$ 835.76\)

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Definitions:

Inspirational Motivation

A leadership approach that involves inspiring and motivating others to achieve a vision or set of goals through positive reinforcement and enthusiasm.

Transactional Influence

A leadership style focused on the exchange of resources or rewards for performance or compliance.

GLOBE Model

A framework for understanding the impact of culture on leadership and organizational practices across the world.

Cultural Dimensions

Cultural dimensions are frameworks or indices used to describe and compare the effects of national culture on values in the workplace and beyond, originating from research by social scientists like Geert Hofstede.