A Bank Wishes to Estimate the Mean Balances Owed by Customers

question 2

Multiple Choice

A bank wishes to estimate the mean balances owed by customers holding MasterCard. The
Population standard deviation is estimated to be $300. If a 98 percent confidence interval is used
And an interval of $75 is desired, how many cardholders should be sampled?

• A) 44
• B) 212
• C) 629
• D) 87

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Definitions:

Depression

A mental health condition marked by ongoing sensations of despair, hopelessness, and a diminished interest or joy in activities.

Aerobic Exercise

Physical activity that improves oxygen consumption by the body through sustained, rhythmic movement of large muscles groups.

Mood-boosting Neurotransmitters

Chemical messengers in the brain, such as serotonin, dopamine, and norepinephrine, that affect feelings of happiness and well-being.

Serotonin

A neurotransmitter that plays a key role in regulating mood, sleep, appetite, and digestion, among other functions.