. The city of Edmonton, Canada recently completed an audit of abandoned bank accounts. An account is considered abandoned if it has not been accessed in the last 20 years. A random sample of 50 such accounts was collected and a 95% confidence interval for the true mean abandoned account balance was found to be (267.43, 1455.00) dollars. Which of the following statements is a correct interpretation of the 95 percent confidence level? (A) If many such samples of size 50 were taken, we would expect 95% of the intervals constructed to contain the mean balance of all abandoned bank accounts in Edmonton. (B) There is a 95% chance that the constructed confidence interval contains the mean balance of all abandoned bank accounts in Edmonton. (C) If another random sample of 50 abandoned bank accounts were taken, we would be 95% confident that the sample mean balance would fall between $267.43 and $1455.00. (D) If many such samples of 50 abandoned bank accounts were taken, we would expect 95% of the intervals constructed to contain the sample mean balance. (E) There is a 95% chance that the sample mean balance of these 50 abandoned bank accounts in Edmonton lies between $267.43 and $1455.00.

. The city of Edmonton, Canada recently completed an audit of abandoned bank accounts. An account is considered abandoned if it has not been accessed in the last 20 years. A random sample of 50 such accounts was collected and a 95% confidence interval for the true mean abandoned account balance was found to be (267.43, 1455.00) dollars. Which of the following statements is a correct interpretation of the 95 percent confidence level? (A) If many such samples of size 50 were taken, we would expect 95% of the intervals constructed to contain the mean balance of all abandoned bank accounts in Edmonton. (B) There is a 95% chance that the constructed confidence interval contains the mean balance of all abandoned bank accounts in Edmonton. (C) If another random sample of 50 abandoned bank accounts were taken, we would be 95% confident that the sample mean balance would fall between $267.43 and $1455.00. (D) If many such samples of 50 abandoned bank accounts were taken, we would expect 95% of the intervals constructed to contain the sample mean balance. (E) There is a 95% chance that the sample mean balance of these 50 abandoned bank accounts in Edmonton lies between $267.43 and $1455.00.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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