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ANZ Bank's Wealth Management Division conducted a sur of the value of the new business created over the last mo in millions of dollars. From 23 responses, the mean standard deviation were found to be $1.741 and $0. million respectively. Assuming the data were collec through a random sample and that the value of new busin

ANZ Bank's Wealth Management Division conducted a sur of the value of the new business created over the last mo in millions of dollars. From 23 responses, the mean standard deviation were found to be $1.741 and $0. million respectively. Assuming the data were collec through a random sample and that the value of new busin

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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QUESTION 6 ANZ Bank's Wealth Management Division conducted a survey of the value of the new business created over the last month in millions of dollars. From 23 responses, the mean and standard deviation were found to be $1.741 and $0.989 million respectively. Assuming the data were collected through a random sample and that the value of new business is approximately normally distributed, calculate a 95% confidence interval estimate of the average value of new business per month in millions of dollars. State only the upper bound correct to three decimal places.
Transcribed Image Text:QUESTION 6 ANZ Bank's Wealth Management Division conducted a survey of the value of the new business created over the last month in millions of dollars. From 23 responses, the mean and standard deviation were found to be $1.741 and $0.989 million respectively. Assuming the data were collected through a random sample and that the value of new business is approximately normally distributed, calculate a 95% confidence interval estimate of the average value of new business per month in millions of dollars. State only the upper bound correct to three decimal places.
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