Question text A savings and loan association needs information concerning the checking account balances of its local customers. A random sample of 14 accounts was checked and yielded a mean balance of $664.14 and a standard deviation of $297.29. Find the lower value for a 98% confidence interval for the true mean checking account balance for local customers.

The lower value for a 98% confidence interval for the true mean checking account balance for local customers is of $451.2.  

Step-by-step explanation:

We have the standard deviation for the sample, which means that the t-distribution is used to solve this question.

The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So

df = 14 - 1 = 13

98% confidence interval

Now, we have to find a value of T, which is found looking at the t table, with 13 degrees of freedom(y-axis) and a confidence level of . So we have T = 2.65

The margin of error is:

In which s is the standard deviation of the sample and n is the size of the sample.

The lower end of the interval is the sample mean subtracted by M. So it is 664.14 - 212.94 = $451.2.

The lower value for a 98% confidence interval for the true mean checking account balance for local customers is of $451.2.  

i am currently in the exact same situation rn. algebra2/adv algebra is killing

step-by-step explanation:

answer: the sun

explanation:

water cycle describes the evaporation of water from earth's surface, formation of clouds and precipitation water back onto the surface of earth. seventy percent of the earth is covered with water in the form of seas and oceans. the heat of the sun causes the evaporation of water from the surface of the ocean. the water vapors rise and condense to form water droplets. the collection of these water droplets form clouds which rain down again.

the evaporation of the oceans surface water as part of the water cycle is caused by the sun