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Point estimate of the mean amount of credit card accounts

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Reference no: EM131679876

Question: A bank manager wants to know the mean amount owed on credit card accounts that become delinquent. A random sample of 100 delinquent credit card accounts taken by the manager produced a mean amount owed on these accounts equal to $2640. The population standard deviation was $578.

a. What is the point estimate of the mean amount owed on all delinquent credit card accounts at this bank?

b. Construct a 97% confidence interval for the mean amount owed on all delinquent credit card accounts for this bank.

Reference no: EM131679876

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