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Interpret the confidence interval. A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution: $2183 µ(balance) < $3828. Select one: O a. We are 90% sure that the mean balance for cheque accounts in the sample was between $2183 and $3828. O b. We are 90% confident that the mean cheque account balance in Australia is between $2183 and $3828. About 9 out of 10 people have a cheque account balance between $2183 and $3828. O c. d. If we took random samples of cheque accounts at this credit union, about nine out of ten of them would produce this confidence interval. O e. We are 90% confident that the interval between $2183 and $3828 contains the true mean cheque account balance at this credit union.

Interpret the confidence interval. A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution: $2183 µ(balance) < $3828. Select one: O a. We are 90% sure that the mean balance for cheque accounts in the sample was between $2183 and $3828. O b. We are 90% confident that the mean cheque account balance in Australia is between $2183 and $3828. About 9 out of 10 people have a cheque account balance between $2183 and $3828. O c. d. If we took random samples of cheque accounts at this credit union, about nine out of ten of them would produce this confidence interval. O e. We are 90% confident that the interval between $2183 and $3828 contains the true mean cheque account balance at this credit union.

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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Interpret the confidence interval. A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution: $2183 < µ(balance) < $3828. Select one: a. We are 90% sure that the mean balance for cheque accounts in the sample was between $2183 and $3828. b. We are 90% confident that the mean cheque account balance in Australia is between $2183 and $3828. c. About 9 out of 10 people have a cheque account balance between $2183 and $3828. d. If we took random samples of cheque accounts at this credit union, about nine out of ten of them would produce this confidence interval. e. We are 90% confident that the interval between $2183 and $3828 contains the true mean cheque account balance at this credit union.
Transcribed Image Text:Interpret the confidence interval. A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution: $2183 < µ(balance) < $3828. Select one: a. We are 90% sure that the mean balance for cheque accounts in the sample was between $2183 and $3828. b. We are 90% confident that the mean cheque account balance in Australia is between $2183 and $3828. c. About 9 out of 10 people have a cheque account balance between $2183 and $3828. d. If we took random samples of cheque accounts at this credit union, about nine out of ten of them would produce this confidence interval. e. We are 90% confident that the interval between $2183 and $3828 contains the true mean cheque account balance at this credit union.
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