8.17 Consumer Confidence An increase in the rate of consumer savings is frequently tied to a lack...
Question:
8.17 Consumer Confidence An increase in the rate of consumer savings is frequently tied to a lack of con- fidence in the economy and is said to be an indicator of a recessional tendency in the economy. A random sampling of n 200 savings accounts in a local com- munity showed a mean increase in savings account val- ues of 7.2% over the past 12 months, with a standard deviation of 5.6%. Estimate the mean percent increase in savings account values over the past 12 months for depositors in the community. Find the margin of error for your estimate.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Introduction To Probability And Statistics
ISBN: 9780176509804
3rd Edition
Authors: William Mendenhall
Question Posted: