Question: Checking accounts are often used for household expenditures. Because they pay no interest, most households including wealthy ones keep a minimum amount in these accounts.

Checking accounts are often used for household expenditures. Because they pay no interest, most households including wealthy ones keep a minimum amount in these accounts.

a. Estimate the mean total value of checking accounts held by wealthy households (CHECKING).

b. Is the required condition satisfied? If not, why not?

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