The Manager of University Credit Union (UCU) Is Concerned About

question 14

Short Answer

The manager of University Credit Union (UCU) is concerned about checking account transaction discrepancies. Customers are bringing transaction errors to the attention of the bank's staff several months after they occur. The manager would like to know what proportion of his customers balance their checking accounts within 30 days of receiving a transaction statement from the bank.Using random sampling, 400 checking account customers are contacted by telephone and asked if they routinely balance their accounts within 30 days of receiving a statement. 271 of the 400 customers respond Yes.
a. Develop a 95% confidence interval estimate for the proportion of the population of checking account customers at UCU that routinely balance their accounts in a timely manner.
b. Suppose UCU wants a 95% confidence interval estimate of the population proportion with a margin of error of E = .025. How large a sample size is needed?

Understand the impact of media violence on aggressive behavior and attitudes.

Identify persuasive techniques and their psychological underpinnings.

Understand the role of cognitive dissonance in attitude and behavior change.

Explain the impact of close relationships on personal attitudes and behaviors.

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Definitions:

Autonomous Consumption

The minimum level of consumption that would still occur even if a consumer had no income, based on basic needs and obligations.

MPS

Marginal Propensity to Save, which is the fraction of an increase in income that is not spent on an increase in consumption.

Disposable Income

Funds that households can direct towards their saving and spending ambitions after income taxes are accounted for.

Consumption

The portion of income spent on goods and services rather than saved.