A bank officer wants to determine the amount of the average total monthly deposits per customer at
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A bank officer wants to determine the amount of the average total monthly deposits per customer at the bank. He believes an estimate of this average amount using a confidence interval is sufficient. How large a sample should he take to be within $200 of the actual average with 99% confidence? He assumes the standard deviation of total monthly deposits for all customers is about $1,000.
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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 978-1118749647
8th edition
Authors: Black Ken
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