Auditors of a particular bank are interested in comparing the reported value of all 2265 customer savings account balances with their own findings regarding the actual value of such assets. Rather than reviewing the records of each savings account at the bank, the auditors decide to examine a representative sample of savings account balances. The population from which they will sample is given in the file P08_13.xlsx.
a. Select 10 simple random samples, each consisting of 100 savings account balances from this population.
b. For each sample generated in part a, construct a 95% confidence interval for the total value of all 2265 savings account balances within this bank. How many of them include the (known) population total?

  • CreatedApril 01, 2015
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