Confidence interval-balance of defaulted loans

Reference no: EM13104667

A federal bank examiner is interest in estimating the mean outstanding defaulted loans balance of all defaulted loans over the last three years.

A random sample of 20 defaulted loans yielded a mean of $67,918 with a standard deviation of $16,552.40.

Calculate a 90% confidence interval for the mean balance of defaulted loans over the past three years.

Reference no: EM13104667

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