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A Bank Wishes to Estimate the Mean Credit Card Balance

Question 36

Multiple Choice

A bank wishes to estimate the mean credit card balance owed by its customers. The population standard deviation is estimated to be $300. If a 98% confidence interval is used and an interval of $75 is desired,how many customers should be sampled?


A) 44
B) 212
C) 629
D) 87

Correct Answer:

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