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An increase in the rate of consumer savings is frequently tied to a lack of confidence in the economy. A random sample of n = 250 savings accounts in a local community showed a mean increase in savings account values of 7.1% over the past 12 months, with a standard deviation of 5.7%. Estimate the mean percent increase in savings account values over the past 12 months for depositors in the community. % Find the 95% margin of error (in %) for your estimate. (Round your answer to three decimal places.)

An increase in the rate of consumer savings is frequently tied to a lack of confidence in the economy. A random sample of n = 250 savings accounts in a local community showed a mean increase in savings account values of 7.1% over the past 12 months, with a standard deviation of 5.7%. Estimate the mean percent increase in savings account values over the past 12 months for depositors in the community. % Find the 95% margin of error (in %) for your estimate. (Round your answer to three decimal places.)

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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An increase in the rate of consumer savings is frequently tied to a lack of confidence in the economy. A random sample of n = 250 savings accounts in a local community showed a mean increase in savings account values of 7.1% over the past 12 months, with a standard deviation of 5.7%. Estimate the mean percent increase in savings account values over the past 12 months for depositors in the community. % Find the 95% margin of error (in %) for your estimate. (Round your answer to three decimal places.) %
Transcribed Image Text:An increase in the rate of consumer savings is frequently tied to a lack of confidence in the economy. A random sample of n = 250 savings accounts in a local community showed a mean increase in savings account values of 7.1% over the past 12 months, with a standard deviation of 5.7%. Estimate the mean percent increase in savings account values over the past 12 months for depositors in the community. % Find the 95% margin of error (in %) for your estimate. (Round your answer to three decimal places.) %
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