A bank officer wants to determine the amount of the average total monthly deposits per customer at the bank. He believes an estimate of this average amount using a confidence interval is sufficient. He assumes the standard deviation of total monthly deposits for all customers is about $9.26. How large a sample should he take to be within $2 of the actual average with 95% confidence?
Added by Justin G.
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96 * (9.26 / sqrt(n)) Margin of Error = 18.1496 / sqrt(n) ** Show more…
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A bank officer wants to determine the amount of the average total monthly deposits per customer at the bank. He believes an estimate of this average amount using a confidence interval is sufficient. How large a sample should he take to be within $200 of the actual average with 99% confidence? He assumes the standard deviation of total monthly deposits for all customers is about $1,000. (Round your answer up to the nearest integer.)
Christopher D.
A bank officer wants to determine the amount of the average total monthly deposits per customer at the bank. He believes an estimate of this average using a confidence interval is sufficient. a) How large a sample should he take to be within $200 of the actual average with 99% confidence? He assumes the standard deviation of total monthly deposits for all customers is about $1000. b) What about 95%? How do the two results compare? Explain your answer.
Jerelyn N.
$$ \begin{array}{l}{\text { Christmas Presents How large a sample is needed to }} \\ {\text { estimate the population mean for the amount of money a }} \\ {\text { person spends on Christmas presents within } \$ 2 \text { and be } 95 \%} \\ {\text { confident? The standard deviation of the population }} \\ {\text { is } \$ 7.50 .}\end{array} $$
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