Is it necessary to know anything about the shape of the

Reference no: EM13631477

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.

c. Give a point estimate of the population mean.

d. Construct a 95% confidence interval estimate for the population mean.

e. Interpret the confidence interval estimate that you constructed in part d.

Reference no: EM13631477

Questions Cloud

Provide a 95 confidence interval estimate for the average : a small stock brokerage firm wants to determine the average daily sales in dollars of stocks to their clients.a sample

Show that the rate at which shaft work is obtained or : a. show that the rate at which shaft work is obtained or required for a reversible change of state in a closed system

The mean diameter of a ball bearing produced by a certain : the mean diameter of a ball bearing produced by a certain manufacturer is 0.80 cm with a standard deviation of 0.03 cm.

Compare the turbine exit quality for a simple cycle without : reheat where high pressure and low pressure turbines are used is added to a simple steam cycle to increase the steam

Is it necessary to know anything about the shape of the : a random sample of 121 checking accounts at a bank showed an average daily balance of 280. the population standard

Changes made to stainlees steel piping to reduce : changes made to stainlees steel piping to reduce intergranular stress corrosion cracking describe four modifications

Assuming the specific heat of the body is the same as water : assuming the specific heat of the body is the same as water calculate the temperature rise due to a total body dose of

The average lifetime of a light bulb is 3000 hours with a : the average lifetime of a light bulb is 3000 hours with a standard deviation of 696 hours. a simple random sample of 36

A simple steam power system has a turbine inlet state of 60 : a simple steam power system has a turbine inlet state of 6.0 mpa and 540 0c and an exhaust pressure 0.008 mpa. the

User Account

All Pages