A local bank needs information concerning the savings account balances of its customers. A random sample of 15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98% confidence interval for the true mean. Assume that the account balances are normally distributed. Lower = Round to hundredths if necessary. Do not include a dollar sign in your answer. Upper = Round to hundredths if necessary. Do not include a dollar sign in your answer.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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A local bank needs information concerning the savings account balances of
its customers. A random sample of 15 accounts was checked. The mean
balance was $686.75 with a standard deviation of $256.20. Find a 98%
confidence interval for the true mean. Assume that the account balances are
normally distributed.
Lower
Round to hundredths if necessary. Do not
include a dollar sign in your answer.
Upper =
Round to hundredths if necessary. Do not
include a dollar sign in your answer.
Transcribed Image Text:A local bank needs information concerning the savings account balances of its customers. A random sample of 15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98% confidence interval for the true mean. Assume that the account balances are normally distributed. Lower Round to hundredths if necessary. Do not include a dollar sign in your answer. Upper = Round to hundredths if necessary. Do not include a dollar sign in your answer.
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