A Random Sample of 21 Checking Accounts at a Bank

question 21

Essay

A random sample of 21 checking accounts at a bank showed an average daily balance of $430 with a standard deviation of $50.
a.Provide a 95% confidence interval estimate of the variance of the population of the checking accounts.
b.Provide a 95% confidence interval estimate of the standard deviation of the population of the checking accounts.

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Definitions:

Possession

The act of having or controlling something, either physically or legally.

Covenant of Quiet Enjoyment

A lease provision assuring the tenant a right to freely and quietly use the leased premises without disturbance by claims of superior title.

Lessee

A person or entity that leases or rents property or equipment from another, the lessor, under the terms of a lease agreement.

Lessee

An individual or entity that leases property or equipment from another party, the lessor.