Can you help me in my questions? ThanksEncl: Excel File1. An artcle discussed The changes ThaT banks in a cerTain counTry are making To The way They calculaTe The
iTs own changes. Suppose ThaT a large bank in The counTry is in The process of considering whaT changes To make.
IT wishes To survey iTs cusTomers To estmaTe The mean percenT paymenT on Their ouTsTanding balance
of error of plus or minus ±0.2 percenT. A piloT sample of n=40 cusTomers showed a sample sTandard deviaton
²he bank needs To survey ____ more cusTomers.
meTropoliTan area was Taken and respondenTs were asked wheTher They had ever funded an IRA accounT wiTh a
CompleTe parTs a Through c below.
proporton. b. sample proporton. c. sample size.
minimum paymenT due on crediT card balances. ²he changes are being pushed by regulaTors in The counTry. In The
pasT, minimum paymenTs were seT aT abouT 3 % of The ouTsTanding balance. Each crediT card issuer is making
ThaT cusTomers would like To see. ²he bank wanTs To consTrucT a 90 % conFdence inTerval estmaTe wiTh a margin
of 1.4 %. How many more cusTomers does The bank need To survey in order To consTrucT The inTerval
2. A sTudy ThaT randomly surveyed
3,500 households found ThaT 46 % of households have funded aT leasT one IRA
rollover from an
employer-sponsored retremenT plan. Suppose a recenT random sample of 50 households in a
rollover from an
employer-sponsored retremenT plan. ²he resulTs are available in The accompanying Table.
a. Based on The random
sample, whaT is The besT poinT estmaTe for The proporton of all households in The
meTropoliTan area ThaT have ever funded an IRA accounT wiTh a rollover from an
²he besT poinT estmaTe for The proporton is ____.
(²ype an inTeger or a
b. ConsTrucT a 99 % conFdence inTerval estmaTe for The True populaton proporton of households in The
meTropoliTan area ThaT had ever funded an IRA accounT wiTh a rollover from an
(Round To Three decimal places as needed. Use ascending
c. If The sponsors of The sTudy found ThaT The margin of error was Too
high, whaT could They do To reduce iT if They
were noT willing To change The level of
conFdence? ²he sponsors could a. increase b. decrease
The a. populaton
This question was answered on: Sep 21, 2023
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