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À credit union took a random sample of 40 checking accounts. The sample mean account balance was $3021.50, and a 90% confidence interval for the mean was $2197 < u < $3846 which of the following is a correct interpretation of the interval?

À credit union took a random sample of 40 checking accounts. The sample mean account balance was $3021.50, and a 90% confidence interval for the mean was $2197 < u < $3846 which of the following is a correct interpretation of the interval?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A credit union took a random sample of 40 checking accounts. The sample mean account balance was $3021.50, and a 90% confidence interval for the mean was $2197 < u < $3846 which of the following is a correct interpretation of the interval? About 9 out of 10 people have a checking account balance between $2197 and $3846. O We are 90% confident that the mean checking account balance at this credit union is between $2197 and $3846. O If we took random samples of checking accounts at this credit union, about 9 out of 10 of them would produce this confidence interval. We are 90% confident that the mean checking account balance in the US is between $2197 and $3846. We are 90% confident that the mean balance for checking accounts in the sample was between 2.76 and 2.88. -
Transcribed Image Text:A credit union took a random sample of 40 checking accounts. The sample mean account balance was $3021.50, and a 90% confidence interval for the mean was $2197 < u < $3846 which of the following is a correct interpretation of the interval? About 9 out of 10 people have a checking account balance between $2197 and $3846. O We are 90% confident that the mean checking account balance at this credit union is between $2197 and $3846. O If we took random samples of checking accounts at this credit union, about 9 out of 10 of them would produce this confidence interval. We are 90% confident that the mean checking account balance in the US is between $2197 and $3846. We are 90% confident that the mean balance for checking accounts in the sample was between 2.76 and 2.88. -
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