1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
KatRina [158]
3 years ago
11

A savings and loan association needs information concerning the checking account balances of its local customers. A random sampl

e of 14 accounts was checked and yielded a mean balance of $664.14 and a standard deviation of $297.29.
a) Find a 98% confidence interval for the true mean checking account balance for local customers.
b) Find a 95% confidence interval for the standard deviation.

Mathematics
1 answer:
Citrus2011 [14]3 years ago
7 0

Answer:

a) 98% confidence interval for the true mean checking account balance for local customers.

(453.586 , 874.693)

b)   95% confidence interval for the standard deviation.

(214.91 , 441.53)

Step-by-step explanation:

Given a size of sample 'n' =14

given mean of the sample x⁻ = $664.14

standard deviation of the sample 'S' = $297.29.

a)

<u>98% of confidence intervals</u>

<u></u>(x^{-} - t_{\alpha } \frac{S}{\sqrt{n} } , x^{-}+ t_{\alpha }\frac{S}{\sqrt{n} } )<u></u>

The degrees of freedom γ=n-1 =14-1 =13

t₁₃ = 2.650 at 98% of confidence level of signification.

(664.14- 2.650\frac{297.29}{\sqrt{14} } , 664.14+ 2.650\frac{297.29}{\sqrt{14} } )

on calculation, we get

(664.14-210.553 , 664.14+210.553)

(453.586 , 874.693)

98% confidence interval for the true mean checking account balance for local customers.

(453.586 , 874.693)

<u>95% of confidence intervals</u>

({s\sqrt{\frac{n-1}{X^{2} _{(\frac{\alpha }{2} ,n-1) } } } ,s\sqrt{\frac{n-1}{X^2_{\frac{1-\alpha }{2},n-1 } } }  )

The degrees of freedom γ=n-1 =14-1 =13

X^2_{0.05,13} =22.36     (check table)

X^2_{0.95,13} = 5.892    (check table)

(297.29. (\sqrt{\frac{14-1}{X^2_{0.05,13}  } } ),297.29(\sqrt{\frac{14-1}{X^2_{0.95,13} } } )

(297.29. (\sqrt{\frac{14-1}{22.36  } } ),297.29(\sqrt{\frac{14-1}{5.892 } } )

(214.91 , 441.53)

95% confidence interval for the standard deviation.

(214.91 , 441.53)

You might be interested in
There are 3 times more kittens than puppies in a box. Together there are 24 animals. How many kittens are there?
Paha777 [63]

kitten : puppies

3:1

<em>Total</em><em> </em><em>no</em><em>.</em><em> </em>

3+1 = 4

<em>Ther</em><em>efore</em>

24÷4 = 6

(each of ratio represent 6 animals)

<em>So</em><em>,</em>

3×6

= 18

Answers

18 kitten

6 0
3 years ago
Can somebody help pls it's due in 1 hour​
marta [7]
All are correct because negative numbers are always smaller than 0 and bigger negative numbers always are less then smaller negative numbers such as -9 is smaller than -5
4 0
3 years ago
Nathan buys 8 bottles of iced tea at the grocery store. He has coupons for $0.35 off the regular price of each bottle. After usi
solniwko [45]

Answer:

$1.25

Step-by-step explanation:

0.35 x 8 = 2.80

7.20 + 2.80 = 10

10 divided by 8 = 1.25

Thank you :)

3 0
2 years ago
Pythagorean theorem
gulaghasi [49]
3 √10
I think since a^2+b^2=c^2
5 0
3 years ago
Read 2 more answers
The base of a pyramid has n sides write an expression for the number of faces of the pyramid
kumpel [21]
A pyramid always have a number of slant triangles equal to the number of the sides of the base.

This means that a pyramid always have the number of face which is one more than the number of sides of the base.

Therefore, given that a pyramid has n number of sides of the base, the expression for the number of faces of the pyramid is given by

number of faces = n + 1.
6 0
3 years ago
Other questions:
  • What are expressions for MN and LN? Hint Construct the altitude from M to LN.
    7·1 answer
  • 9 more than two-sevenths a number is 45. What is the number?<br> Also, show an explanation.
    10·1 answer
  • There are at least 103 visitors to the principal's office each week. Write an inequality that represents the number of visitors
    8·2 answers
  • A 10= kg bag of grapes for $15
    7·1 answer
  • The GCF of 64 and a number is 16. Which of the following could be the number?
    6·1 answer
  • HELP ME PLEASE I WILL GIVE YOU BRAINLIEST
    12·1 answer
  • Simplify the expression by combining like terms: 4x - 2 - 8x + 1
    13·2 answers
  • In the figure, RV, WS, and QT intersect at point P.<br> What is the value of x? Show your work.
    9·1 answer
  • 6<br> 9<br> 18<br><br> What number<br> comes next in<br> the above<br> sequence?
    5·2 answers
  • please help i am doing a test. Explain how you can use partial quotients to divide 7,563 ÷ 4 = ________.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!