Jamaal is planning to invest up to $24000 in City Bank or State Bank. He wants to invest at least $1000 in City Bank, but not more than $13000; since State Bank does not insure more than $17000, he wants to invest no more than this amount in State Bank. The interest at City Bank is 6%, and the interest at State Bank is 7%. How much should he invest in each bank to earn the most interest? What is the maximum amount of interest that Jamaal can earn? He should invest $ in City Bank and $ in State Bank. The maximum amount of interest that Jamaal can earn is $[

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.