A Random Sample of 16 ATM Transactions at the Last

question 44

Multiple Choice

A random sample of 16 ATM transactions at the Last National Bank of Flat Rock revealed a mean transaction time of 2.8 minutes with a standard deviation of 1.2 minutes. The width (in minutes) of the 95 percent confidence interval for the true mean transaction time is:

• A)± 0.639
• B)± 0.588
• C)± 0.300
• D)± 2.131

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Definitions:

Payables

Amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.

Marketable Securities

Liquid financial instruments that can be quickly converted into cash at a reasonable price.

Companies

Entities engaged in commercial, industrial, or professional activities with the goal of generating profits.

Line of Credit

A flexible loan from a bank or financial institution that allows a borrower to draw funds up to a specified limit at any time, with interest typically charged only on the amount drawn.