Consider the large bank that wants to estimate the average amount of money owed by its...
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Consider the large bank that wants to estimate the average amount of money owed by its delinquent debtors, µ. The bank randomly samples n = 100of its delinquent accounts and finds that the sample mean amount owed is x = $230.Also, suppose it is known that the standard deviation of the amount owed for all delinquent accounts is o = $90.Use the interval estimator x +1.960; to calculate a confidence interval for the target parameter, u. Consider the large bank that wants to estimate the average amount of money owed by its delinquent debtors, µ. The bank randomly samples n = 100of its delinquent accounts and finds that the sample mean amount owed is x = $230.Also, suppose it is known that the standard deviation of the amount owed for all delinquent accounts is o = $90.Use the interval estimator x +1.960; to calculate a confidence interval for the target parameter, u.
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