Estimate the mean credit card balance, Basic Statistics

+44 141 628 6080
[email protected]

Estimate the mean credit card balance

A bank wishes to estimate the mean credit card balance owed by its customers. The population standard deviation is estimated to be $297. If a 98 percent confidence interval is used and an interval of $84 is desired, how many customers should be sampled?

272

613

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Estimate the mean credit card balance

Reference No:- TGS0742373

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Basic Statistics

Q : Percent of junior executives

The proportion of junior executives leaving large manufacturing companies within three years is to be estimated within 2 percent. The 0.95 degree of confidence is to be used. A study conducted several years ago revealed that the percent of junior

Q : Best point estimate for the population mean

A student wanted to construct a 95% confidence interval for the average age of students in her statistics class. She randomly selected 12 students. Their average age was 20.7 years with a standard deviation of 1.2 years. What is the best point est

Q : Absorption amount of the sponge

What is the decision rule at the 0.01 level of significance to test if the new design increased the absorption amount of the sponge?

Q : Computed z-values lie

If the null hypothesis that two means are equal is true, where will 99% of the computed z-values lie between?

Q : Estimate the mean credit card balance

Q : Explanatory variable caused response variable

What is wrong with this statement? High linear correlation proves that the explanatory variable (variable x) caused the response variable (y) to happen.

Q : National manufacturer of unattached garages

A national manufacturer of unattached garages discovered that the distribution of the lengths of time it takes two construction workers to erect the Red Barn model is normally distributed with a mean of 36 hours and a standard deviation of 5 hours

Q : Mean of a normal distribution

The mean of a normal distribution is 406 pounds. The standard deviation is 10 pounds. What is the area between 422 pounds and the mean of 406 pounds?

Q : Population standard deviation for random variable

Compute the population standard deviation for this random variable and use your answer from the previous question in order to complete the following observation: Out of a population of 10000 customers, on average _____ customers make additional pu

1928225

Questions
Asked

3,689

Active Tutors

1455369

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Estimate the mean credit card balance

Reference No:- TGS0742373

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Percent of junior executives

Q : Best point estimate for the population mean

Q : Absorption amount of the sponge

Q : Computed z-values lie

Q : Estimate the mean credit card balance

Q : Explanatory variable caused response variable

Q : National manufacturer of unattached garages

Q : Mean of a normal distribution

Q : Population standard deviation for random variable

Is early food experiences can impact development

How do you define being an adult

Review a social, behavioral, or cultural factor

Is lifespan psychologists are unlikely to investigate

Describe the results, including any scores

What is a behavioral indicator related to family

Discuss three ethical guidelines that are important

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Estimate the mean credit card balance

Reference No:- TGS0742373

Recent Questions Asked Basic Statistics

Q : Percent of junior executives

Q : Best point estimate for the population mean

Q : Absorption amount of the sponge

Q : Computed z-values lie

Q : Estimate the mean credit card balance

Q : Explanatory variable caused response variable

Q : National manufacturer of unattached garages

Q : Mean of a normal distribution

Q : Population standard deviation for random variable

Asked Questions