# Question: A bank manager wants to know the mean amount owed

A bank manager wants to know the mean amount owed on credit card accounts that become delinquent. A random sample of 100 delinquent credit card accounts taken by the manager produced a mean amount owed on these accounts equal to $2640. The population standard deviation was $578.

a. What is the point estimate of the mean amount owed on all delinquent credit card accounts at this bank?

b. Construct a 97% confidence interval for the mean amount owed on all delinquent credit card accounts for this bank.

a. What is the point estimate of the mean amount owed on all delinquent credit card accounts at this bank?

b. Construct a 97% confidence interval for the mean amount owed on all delinquent credit card accounts for this bank.

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