Statistics Through Applications
Statistics Through Applications
2nd Edition
ISBN: 9781429219747
Author: Daren S. Starnes, David Moore, Dan Yates
Publisher: Macmillan Higher Education
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Chapter 10.2, Problem 10.43E

(a)

To determine

To Explain: the use of a test and confidence interval based on a normal sampling distribution for the sample mean.

(a)

Expert Solution
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Explanation of Solution

Given:

  n=200

It is observed that the use the Normal sampling distribution because the sample size of 200 is large and the centre limit theorem then said that the sampling distribution of the sample mean is approximately normal.

(b)

To determine

To Explain: the some plausible reason that charges might go up and design of a comparative randomized experiment to answer the bank’s question.

(b)

Expert Solution
Check Mark

Explanation of Solution

Charge might go up: due to inflation, the bank having increasing costs, etc

Assume arbitrary select customers of the bank and then randomly given then customers to two groups the individuals in the first groups would not pay fees, where the individuals in the second group would have to pay fees. It would compare the increase in the amount charged compared to the previous year.

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Statistics Through Applications

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