Question
Please, attach ONE Excel file with solutions to ALL exercises for this assignment (you cannot submit a separate Excel file for each exercise - it
Please, attachONEExcel file with solutions toALLexercises for this assignment (you cannot submit a separate Excel file for each exercise - it should be one Excel file which contains solutions to all exercises!).
(please use a link to send the Excel file to me)
Banking fees have received much attention during the recent economic recession as banks look for ways to recover from crisis. A sample of 30 customers paid an average fee of $12.55 per month on their interest-bearing checking accounts. Assume the population standard deviation is $1.75.
1. What is the margin of error for the 95% confidence interval for the average fee in the population?
Use NORM.INV() or NORM.S.INV()
2. Construct a 95% confidence interval for the average fee.
3. How would the confidence interval change if the confidence level increased, for example, to 98%?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started