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    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.

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    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.

    $2.49

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