Case Study - Bank Robberies: A Statistical Analysis
We presented summary statistics for data on bank robberies for five variables: amount stolen, number of bank staff present, number of customer's present, number of bank raiders, and travel time from the bank to the nearest police station. These summary statistics were obtained by three researchers for data from a sample of 364 bank raids over a several-year period in the United Kingdom. For all bank raids in the United Kingdom during the years in question:
a. Identify and interpret a point estimate for the mean of each of the five aforementioned variables.
b. Find and interpret a 95% confidence interval for mean amount stolen.
c. Find and interpret a 95% confidence interval for the mean number of bank staff presents at the time of robberies.
d. Determine and interpret a 95% confidence interval for the mean number of customers present at the time of robberies.
e. Determine and interpret a 95% confidence interval for the mean number of bank raiders.
f. Obtain and interpret a 95% confidence interval for the mean travel time from the nearest police station to the bank outlet.