A savings and loan association needsinformation concerning the checking accountbalances of its local customers. A randomsample of 14 accounts was checked and yieldeda mean balance of $664.14 and a standarddeviation of $ 297.29. Find a 90% confidenceinterval for the true mean checking accountbalance for local customers.O a.O b.O c.O d.523.43 to 804.85493.71 to 834.57492.52 to 835.76455.65 to 872.63

Given datan=14x¯=664.14s=297.29confidence interval is 90%

Answered: A savings and loan association needs…

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 random sample of 100 credit sales in a department store showed an average sale of $120.00. From past data, it is known that the standard deviation of the population is $40.00. a. Determine the standard error of the mean. b. With a 0.95 probability, determine the margin of error. c. What is the 95% confidence interval of the population mean?
20) A student randomly selects 10 paperbacks at a store. The mean price is $8.75 with a standard deviation of $1.50. Construct a 95% confidence interval for the population standard deviation, o. Assume the data are normally distributed.
The mean finish time for a yearly amateur auto race was 185.24 minutes with a standard deviation of 0.395 minute. The winning car, driven by Ron, finished in 184.73 minutes. The previous year's race had a mean finishing time of 111.1 with a standard deviation of 0.141 minute. The winning car that year, driven by Alice, finished in 110.72 minutes. Find their respective z-scores. Who had the more convincing victory? ..... Ron had a finish time with a z-score of Alice had a finish time with a z-score of (Round to two decimal places as needed.) Which driver had a more convincing victory? A. Ron a more convincing victory because of a lower z-score. B. Alice had a more convincing victory because of a lower z-score. C. Alice had a more convincing victory because of a higher z-score. D. Ron a more convincing victory because of a higher z-score. O Time Remaining: 02:28:57 Next tv J O NT DEC 16 étv A MacBook Air DII 80 F9 F10 F11 F12 esc F5 F6 F7 F8 F2 F3 F4 F1 & ) $ 1 2 3 4 7 8 delete Q W E R Y…
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2. The average gasoline price of one of the major oil companies has been $1.00 per gallon. Because of shortages in production of crude oil, it is believed that there has been a significant increase in the average price. In order to test this belief, we randomly selected a sample of 36 of the company's gas stations and determined that the average price for the stations in the sample was $1.04. Assume that the standard deviation of the population (o) is $0.12. a) State the null and the alternative hypotheses for testing the belief. b) Describe a Type I error and a Type II error for this situation. c) What is the critical value at a = .05? d) what's your What is the t-statistic or z-statistic associated with the above sample results?
The manager of a Kroger grocery store claims a membership card will save consumers more than $15 per week on average. To check this claim, a random sample of 12 shoppers with membership cards was obtained and their weekly grocery bills were inspected. Suppose the sample mean was $16.35 and the sample standard deviation was $3.20. Assume the distribution of savings is normal. a. Check the necessary assumptions and conditions for doing this test. b. What are the appropriate hypotheses to test the claim? c. Calculate the appropriate test statistic and p-value. d. What is the conclusion?
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