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Confidence Interval for true mean

A savings and loan association needs information concerning the checking account balances of it's local customers. A random sample of 14 accounts was checked, yielding the following balances (rounded to the nearest dollar):
701 379 349 828 499 174 786
762 580 943 741 798 311 1096
Find a 99% confidence interval for the true mean cheking account balance, mean, for local customers. Assume that balances are normally distributed.

Solution Preview

701
379
349
828
499
174
786
762
580
943
741
798
311
1096
Mean= 639.07
Standard devaiation= 264.84

Mean= 639.07
Standard ...

Solution Summary

Solution calculates 99% confidence interval for the mean.

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