2. A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The standard deviation of the population is known to be $66. Assume that the population is infinite. a. Find the standard error of the sample mean. b. Give a point estimate of the population mean. c. Construct a 80% confidence interval estimates for the mean. d. Construct a 95% confidence interval for the mean.

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2. A random sample of 121 checking accounts at a bank showed an average daily balance of
$280. The standard deviation of the population is known to be $66. Assume that the population is
infinite.
a. Find the standard error of the sample mean.
b. Give a point estimate of the population mean.
c. Construct a 80% confidence interval estimates for the mean.
d. Construct a 95% confidence interval for the mean.
Transcribed Image Text:2. A random sample of 121 checking accounts at a bank showed an average daily balance of $280. The standard deviation of the population is known to be $66. Assume that the population is infinite. a. Find the standard error of the sample mean. b. Give a point estimate of the population mean. c. Construct a 80% confidence interval estimates for the mean. d. Construct a 95% confidence interval for the mean.
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