How large sample should he take to be within actual average, Basic Statistics

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How large sample should he take to be within actual average

A bank officer wants to determine the amount of the average total monthly deposits per customer at the bank. He believes an estimate of this average amount using a confidence interval is sufficient. How large a sample should he take to be within 200£ of the actual average with 99% confidence? He assumes the standard deviation of total monthly deposits for all customers is about 1000£.

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Basic Statistics: How large sample should he take to be within actual average

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Request for Solution File

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Basic Statistics: How large sample should he take to be within actual average

Reference No:- TGS0116336

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Primary activities in the value chain

Q : Balance sheet and statement of cash flows

Q : Significance level to test the claim related problem

Q : Products and clothing produced in the developed country

Q : How large sample should he take to be within actual average

Q : Write a method singleparent that returns the number of node

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Q : Conduct nonparametric test that machine is mixing nuts

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Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: How large sample should he take to be within actual average

Reference No:- TGS0116336

Recent Questions Asked Basic Statistics

Q : Primary activities in the value chain

Q : Balance sheet and statement of cash flows

Q : Significance level to test the claim related problem

Q : Products and clothing produced in the developed country

Q : How large sample should he take to be within actual average

Q : Write a method singleparent that returns the number of node

Q : Computing money supply

Q : The psychological and sociological viewpoints

Q : Conduct nonparametric test that machine is mixing nuts

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