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:

Recent Data

Information or statistics that have been collected in the near past and are up-to-date.

Long-Term Trend

A persistent movement in data over a long period, indicating a general direction.

Annual Time Series

Data collected or recorded at yearly intervals, often used for analyzing trends over time.

Data Pattern

The recognizable way that data may be organized or follow a specific arrangement, suggesting trends or relationships.