A Credit Union Took a Random Sample of 40 Accounts

question 23

Multiple Choice

A credit union took a random sample of 40 accounts and obtained the following 90% confidence interval for the mean checking account balance at the institution: $2193 < μ(balance) < $3828.

• A)We are 90% confident that the mean checking account balance in the U.S.is between $2193 and $3828.
• B)About 9 out of 10 people have a checking account balance between $2193 and $3828.
• C)If we took random samples of checking accounts at this credit union,about nine out of ten of them would produce this confidence interval.
• D)We are 90% confident that the mean checking account balance at this credit union is between $2193 and $3828,based on this sample.
• E)We are 90% sure that the mean balance for checking accounts in the sample was between $2193 and $3828.

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Definitions:

Limbic System

The limbic system is a complex set of structures in the brain involved in emotion, behavior, and memory processing.

Chemical Sense

Refers to the sensory systems that allow organisms to perceive the chemical composition of their environment, primarily taste and smell.

Taste

The sensation produced when a substance in the mouth reacts chemically with taste receptor cells located on taste buds.

Kinesthesia

Our movement sense—our system for sensing the position and movement of individual body parts.