Question: 2. A random sample of 144 checking accounts at a bank showed an average daily balance of $295. The standard deviation of the population is

2. A random sample of 144 checking accounts at a bank showed an average daily balance of $295. The standard deviation of the population is known to be $72. Please answer the following questions:

(a) Find the standard error of the mean.

(b) Give a point estimate of the population mean.

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