A Local Bank Needs Information Concerning the Checking Account Balances

question 55

Multiple Choice

A local bank needs information concerning the checking 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)