Use the gien degree of confidence and sample data to constuc
Use the gien degree of confidence and sample data to constuct a confidence interval for the population mean u. Assume that the population has a normal distribution. 7) A savings and loan association needs information conerning the checking account balances of its local customers. A randome sample of 14 accounts was checked and yielded a neam balance of $664.14 and a standard deviation of $297.29. Find a 98% confidence interval for the true mean checking account balance for local customers.
Solution
