3. A bank in Ottawa is considering a survey of its customers for the purpose ofestimating the mean number of checks written per customer in each month. A sampleof 360 customers was selected. The following sample values were recorded: = = 33.4and s = 11.2.(a) Provide a 90% confidence interval estimate for the mean number ofchecks written per customer in each month and interpret the estimate.1(b) Suppose a mistake was made in counting the number of customersthat was surveyed, and the actual sample size was 36 instead of 360. Recomputethe 90% confidence interval estimate, and compare it to the estimate developedin part (a). Why are the estimates different even though the sample mean andstandard deviation did not change?(c) The bank is interested in opening another branch in Ottawa. Itsdemographic studies indicate that the branch will attract about 2000 customerswho will have checking accounts. The bank is attempting to prepare a system thatwould process the checks these customers would write. Baed on your estimationin part b, would it be reasonable for them to install a system that would process65000 checks per month? Explain your answer and the logic that led you to thisanswer.

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3. A bank in Ottawa is considering a survey of its customers for the purpose of estimating the mcan number of checks written per customer in each month. A sample of 360 customers was selected. The following sample values were recorded: # = 33.4 and s = 11.2. (a) Provide a 90% confidence interval estimate for the mean number of checks written per customer in each month and interpret the estimate.

3. A bank in Ottawa is considering a survey of its customers for the purpose of estimating the mcan number of checks written per customer in each month. A sample of 360 customers was selected. The following sample values were recorded: # = 33.4 and s = 11.2. (a) Provide a 90% confidence interval estimate for the mean number of checks written per customer in each month and interpret the estimate.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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