Most banks provide different types of accounts to benefit their customers. Most people will choose either a

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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.

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Business Statistics

ISBN: 9781292220383

10th Global Edition

Authors: David Groebner, Patrick Shannon, Phillip Fry

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