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:

Family Court

A court of law that deals with legal issues related to family matters, such as divorce and child custody.

Divorce

The formal termination of a marriage by a judicial court or an authorized institution.

Monetary Jurisdiction

The legal authority of a court to hear cases and make decisions involving monetary disputes of a specified value.

Legal Fees

Charges imposed by lawyers or law firms for services provided or to be provided.