The Coommunity banks are banks with less than a billion dollars of assets. The C

Question

The Coommunity banks are banks with less than a billion dollars of assets. The Community Bankers Council of the American Bankers Association conducts an annual survey of community banks. For the 110 banks that made up the random sample in a recent survey, the mean assets were i = 220 million dollars with a standard deviation of s = 145 million dollars. Based on this data, a 95% confidence interval for the mean assets for all community banks is found to be (192.9 247.1). Which of the following statement is correct? We are 95% confident that the mean assets of the 110 banks sampled falls between $192.9 and $247.1. 95% of all community banks have assets between $192.9 and $247.1. Id repeated sampling. 95% of the samples created would have a sample mean between S 192.9 and $247.1. We are 95% confident that the mean assets of all community banks fails between $192.9 and $247.1. None of the above

Explanation / Answer

Confidence Interval
CI = x

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