A Random Sample of 121 Checking Accounts at a Bank

question 28

Essay

A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The standard deviation of the population is known to be $66.
a.Is it necessary to know anything about the shape of the distribution of the account balances in order to make an interval estimate of the mean of all the account balances? Explain.
b.Find the standard error of the mean.
c.Give a point estimate of the population mean.
d.Construct a 80% confidence interval estimates for the mean.
e.Construct a 95% confidence interval for the mean.

---

Definitions:

Barriers To Sex

Factors that inhibit or prevent individuals from engaging in sexual activity, which can be physical, psychological, social, or emotional.

Older Age

A life stage marked by advanced years, typically associated with physical, cognitive, and social changes.

Health Problems

Physical or mental conditions that affect a person's well-being, daily functioning, or quality of life.

Incentive Approach

A motivational model that suggests behavior is directed towards rewards or away from punishments.