A credit union took a random sample of 40 checking accounts. The sample mean account balance was $3021.50, and a 90% confidence interval for the mean was $2197

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A credit union took a random sample of 40 checking accounts. The sample mean<br>account balance was $3021.50, and a 90% confidence interval for the mean was<br>$2197 < u < $3846 which of the following is a correct interpretation of the<br>interval?<br>About 9 out of 10 people have a checking account balance between $2197 and<br>$3846.<br>O We are 90% confident that the mean checking account balance at this credit<br>union is between $2197 and $3846.<br>O If we took random samples of checking accounts at this credit union, about 9 out<br>of 10 of them would produce this confidence interval.<br>We are 90% confident that the mean checking account balance in the US is<br>between $2197 and $3846.<br>We are 90% confident that the mean balance for checking accounts in the<br>sample was between 2.76 and 2.88. -<br>

Extracted text: A credit union took a random sample of 40 checking accounts. The sample mean account balance was $3021.50, and a 90% confidence interval for the mean was $2197 < u="">< $3846="" which="" of="" the="" following="" is="" a="" correct="" interpretation="" of="" the="" interval?="" about="" 9="" out="" of="" 10="" people="" have="" a="" checking="" account="" balance="" between="" $2197="" and="" $3846.="" o="" we="" are="" 90%="" confident="" that="" the="" mean="" checking="" account="" balance="" at="" this="" credit="" union="" is="" between="" $2197="" and="" $3846.="" o="" if="" we="" took="" random="" samples="" of="" checking="" accounts="" at="" this="" credit="" union,="" about="" 9="" out="" of="" 10="" of="" them="" would="" produce="" this="" confidence="" interval.="" we="" are="" 90%="" confident="" that="" the="" mean="" checking="" account="" balance="" in="" the="" us="" is="" between="" $2197="" and="" $3846.="" we="" are="" 90%="" confident="" that="" the="" mean="" balance="" for="" checking="" accounts="" in="" the="" sample="" was="" between="" 2.76="" and="" 2.88.="">

Jun 09, 2022
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