Question

Banking fees have received much attention during the recent economic recession as banks look for ways to recover from the crisis. A sample of 30 customers paid an average fee of $ 12.55 per month on their interest bearing checking accounts. Assume the population standard deviation is $ 1.75.
a. Construct a 95% confidence interval to estimate the average fee for the population.
b. What is the margin of error for this interval?


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  • CreatedJuly 17, 2015
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