A Credit Union Took a Random Sample of 400 Accounts

question 59

Multiple Choice

A credit union took a random sample of 400 accounts and obtained the following 90% confidence interval for the mean checking account balance at the institution: $2185 < μ(balance) < $3846.

• A)We are 90% confident that the mean checking account balance at this credit union is between $2185 and $3846,based on this sample.
• B)We are 90% sure that the mean balance for checking accounts in the sample was between $2185 and $3846.
• 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)About 9 out of 10 people have a checking account balance between $2185 and $3846.
• E)We are 90% confident that the mean checking account balance in the U.S.is between $2185 and $3846.

---

Definitions:

Base Salaries

The initial rate of compensation an employee receives in return for their services, not including extra benefits, bonuses, or overtime.

Consultative Decision

A consultative decision is made by an individual or leadership after seeking and considering input and advice from others, typically within an organization.

Subordinates

Individuals who report to a higher authority or are lower in rank within an organizational hierarchy.

Lunch Schedule

A prearranged timetable for when lunch breaks occur within an organization, school, or institution.