Evaluate difference-mean weekly deposits-confidence interval

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Reference no: EM13109247

First National Bank and City National Bank are competing for customers who would like to open IRAs. 32 weeks are arbitarily chosen for First National Bank and another 32 weeks are arbitarily chosen for City National. Total amount deposited into IRAs is noted for each week. Summary of data (deposits in thousands of dollars) from survey is as follows. First National: sample mean = 4.1, standard deviation = 1.2. City National: sample mean = 3.5, standard deviation = 0.9. Use 98% confidence interval to evaluate difference in mean weekly deposits into IRAs for each bank.

Reference no: EM13109247

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