Statistics Solutions

[See Solution] The following data represent the monthly service fee in dollars if a customer’s account falls below the minimum required $1,500 balance for

Question: The following data represent the monthly service fee in dollars if a customer’s account falls below the minimum required $1,500 balance for a sample of 26 banks for direct-deposit customers. BANKCOST2

12 8 5 5 6 6 10 10 9 7 10

7 7 5 0 10 6 9 12 0 5 10

8 5 5 9

  1. Construct a 95% confidence interval for the population mean monthly service fee in dollars if a customer’s account falls below the minimum required balance.
  2. Interpret the interval constructed in (a).

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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