Huntington National Bank: Confidence levels for use ATM machines
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Huntington National Bank, like most other large banks, found that using automatic teller machines (ATMs) reduces the cost of routine bank transactions. Huntington installed an ATM in the corporate offices of Fun Toy Company. The ATM is for the exclusive use of Fun's 1,000 employees. After several months of operation, a sample of 100 employees revealed the following use of the ATM machine by Fun employees in a month.
Number of Times
ATM Used Frequency
0 15
1 10
2 20
3 20
4 25
5 10
(a) How many transactions does the average Fun employee make per month? (Round your answer to 2 decimal places.)
(b) Develop a 95 percent confidence interval for the mean number of transactions per month. (Round your answers to 3 decimal places.)
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The expert examines confidence levels for use ATM machines for Huntington National Bank.
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