A local bank needs information concerning the savings account balances of its customers. A random sample of

15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98%

confidence interval for the true mean. Assume that the account balances are normally distributed. Round to the

nearest cent.

Follow the PANIC acronym

P- state the Parameter

A- check the Assumptions are satisfied

N- state is the Name of the interval

I- compute numerical values of the Interval

C- write a Conclusion for your finding