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8. Hand in United Bank has 450 branches. Management is interested in the average number of business clients (X) a branch has per month. From historical data it was found that there was a mean of 60 business clients per branch per month with a variance of 20. It was also found that about 10% of the branches had no business clients. Answer the following questions. 8.1. What does "a mean of 60 business clients" mean? 8.2. Give the standard deviation of the population. 8.3. Give the variance of the population proportions of the number of business clients per branch per month. 8.4. With a month's worth of data, a simple random sample, with replacement, of 60 branches was drawn and the following result was determined to be X = 100. Explain this in words and in detail.

8. Hand in United Bank has 450 branches. Management is interested in the average number of business clients (X) a branch has per month. From historical data it was found that there was a mean of 60 business clients per branch per month with a variance of 20. It was also found that about 10% of the branches had no business clients. Answer the following questions. 8.1. What does "a mean of 60 business clients" mean? 8.2. Give the standard deviation of the population. 8.3. Give the variance of the population proportions of the number of business clients per branch per month. 8.4. With a month's worth of data, a simple random sample, with replacement, of 60 branches was drawn and the following result was determined to be X = 100. Explain this in words and in detail.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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8. Hand in United Bank has 450 branches. Management is interested in the average number of business clients (X) a branch has per month. From historical data it was found that there was a mean of 60 business clients per branch per month with a variance of 20. It was also found that about 10% of the branches had no business clients. Answer the following questions. 8.1. What does “a mean of 60 business clients" mean? 8.2. Give the standard deviation of the population. 8.3. Give the variance of the population proportions of the number of business clients per branch per month. 8.4. With a month's worth of data, a simple random sample, with replacement, of 60 branches was drawn and the following result was determined to be X = 100. Explain this in words and in detail.
Transcribed Image Text:8. Hand in United Bank has 450 branches. Management is interested in the average number of business clients (X) a branch has per month. From historical data it was found that there was a mean of 60 business clients per branch per month with a variance of 20. It was also found that about 10% of the branches had no business clients. Answer the following questions. 8.1. What does “a mean of 60 business clients" mean? 8.2. Give the standard deviation of the population. 8.3. Give the variance of the population proportions of the number of business clients per branch per month. 8.4. With a month's worth of data, a simple random sample, with replacement, of 60 branches was drawn and the following result was determined to be X = 100. Explain this in words and in detail.
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