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jolli1 [7]
3 years ago
7

The manager of a savings and loan branch wants to estimate the average amount held in passbook savings accounts by the branch ba

nk depositors. A random sample of 25 depositors is selected, and the results indicate a sample average of $4,750 and a sample standard deviation of $1,200. Given the 95% confidence interval estimates calculated above, if an individual had $4,000 ina passbook savings account, is this considered unusual?
a. Yes
b. Maybe
c. Do not know
d. No
Business
1 answer:
GaryK [48]3 years ago
3 0

Answer:

Correct answer:

d. No

Explanation:

This is because, from the random sample that was done, it shows that the average money held by customers falls within $3550 - $5950 which averages $4750 (Factoring in the standard deviation of $1200). <em>Therefore, it is not considered unusual if an individual had $4000 since it falls within the range of amount held by most depositors and customers of the said bank.</em>

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