# Confidence Interval for true mean

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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.

https://brainmass.com/statistics/confidence-interval/confidence-interval-for-true-mean-14678

#### 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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