A regional bank issues different types of credit cards. As part of its annual review of the profitability of each type of credit​ card, the bank randomly samples 36 customers to measure the average...



A regional bank issues different types of credit cards. As part of its annual review of the profitability of each type of credit​ card, the bank randomly samples 36 customers to measure the average quarterly charges per card. A random sample of 36 accounts from one type of credit card shows the accompanying spending per account​ (rounded to the nearest​ dollar).

Complete parts a through e below.



Data on Credit Card Spending:


Credit Card Spending
$2,373  $4,197  $3,711  $2,324  $2,782  $2,635
$2,628  $2,968  $2,954  $2,550  $2,401  $1,363
$1,797  $1,993  $2,539  $3,233  $2,855  $1,630

$2,169  $3,249  $3,428  $1,932  $3,067  $2,340
$2,991  $2,245  $3,496  $2,697  $2,983  $3,138
$1,600  $2,852  $2,739  $2,132  $2,885  $3,243






a. Based on these randomly sampled​ accounts, what is the best point estimate of the true mean quarterly spending for credit card account​ holders?



​$


​(Round to the nearest cent as​ needed.)




Jun 05, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here