Question: Bank Robberies: A Statistical Analysis. In the article "Robbing Banks" (Significance, Vol. 9, Issue 3, pp. 17—21)8. Reilly et al. studied several aspects of bank robberies. As these researchers state, "Robbing a bank is the staple crime of thrillers, movies and newspapers. But. . . bank robbery is not all it is cracked up to be." The researchers concentrated on the factors that determine the amount of proceeds from bank robberies, and thus were able to work out both the economics of attempting one and of preventing one. In particular, the researchers revealed that the return on an average bank robbery per person per raid is modest indeed—so modest that it is not worthwhile for the banks to spend too much money on such preventative measures as fast-rising screens at tellers' windows. The researchers obtained exclusive data from the British Bankers' Association. In one aspect of their study, they analyzed the data from a sample of 364 bank raids over a several year period in the United Kingdom. The following table repeats a portion of Table 1 on page 19 of the article.

After studying point estimates and confidence intervals in this chapter, you will be asked to use these summary statistics to estimate the (population) means of the variables in the table.

The case study presents summary statistics for data on bank robberies for five variables: amount stolen, number of bank staff present, number of customers present, number of bank raiders, and travel time from the bank to the nearest police station. These summary statistics were obtained by three researchers from a sample of 364 bank raids over a several-year period in the UK. For all bank raids in the UK during the years in questions:

1. Identify and interpret a point estimate for the mean (in other words, the mean) of each of the five aforementioned variables.
2. Find and interpret a 95% confidence interval for the mean amount stolen.
3. Find and interpret a 95% confidence interval for the mean amount of bank staff present at the time of robberies.
4. Find and interpret a 95% confidence interval for the mean number of customers present at the time of robberies.
5. Find and interpret a 95% confidence interval for the mean number of bank raiders.
6. Find and interpret a 95% confidence interval for the mean travel time from the nearest police station to the bank outlet.
7. This week, we learned about confidence intervals. Are there any applications from this week’s content to your major, your profession, or your interests? Please explain.

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