A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The population standard deviation is known to be $60. 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. с. Give a point estimate of the population mean." population mean.
A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The population standard deviation is known to be $60. 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. с. Give a point estimate of the population mean." population mean.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 22PFA
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