Most banks provide different types of accounts to benefit their customers. Most people will choose either a
Question:
Most banks provide different types of accounts to benefit their customers. Most people will choose either a savings account or a current account to manage their money. A savings account is the most common type of deposit account with limited withdrawals compared to a current account, which aids regular money transactions related to a business. In general, there is a difference between the average daily interest earned (in $) in both accounts with the same daily balance of $100,000.
Random sample of accounts were selected with the following results:
Daily Interest Earned (in $)
Savings Account Current Account n1 = 13 n2 = 15 x1 = 40 x2 = 30 s1 = 2.15 s2 = 3.65 Based on these data, assuming that the populations are normally distributed with equal variances, construct a 95% confidence interval and interpret your finding.
Step by Step Answer:
Business Statistics
ISBN: 9781292220383
10th Global Edition
Authors: David Groebner, Patrick Shannon, Phillip Fry