Solved

A Credit Union Took a Random Sample of 40 Accounts 90%90 \%

Question 3

Multiple Choice

A credit union took a random sample of 40 accounts and yielded the following 90%90 \% confidence interval for the mean checking account balance at the institution:
$2183<μ\$ 2183 < \mu (balance) <$3828< \$ 3828 .


A) If we took random samples of checking accounts at this credit union, about nine out of ten of them would produce this confidence interval.
B) We are 90%90 \% confident that the mean checking account balance at this credit union is between $2183\$ 2183 and $3828\$ 3828 , based on this sample.
C) We are 90%90 \% confident that the mean checking account balance in the U.S. is between $2183\$ 2183 and \$3828.
D) About 9 out of 10 people have a checking account balance between $2183\$ 2183 and $3828\$ 3828 .
E) We are 90%90 \% sure that the mean balance for checking accounts in the sample was between $2183\$ 2183 and $3828\$ 3828

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents