Multiple Choice
A federal bank examiner is interested in estimating the mean outstanding defaulted loans balance of all defaulted loans over the last three years. A random sample of 20 defaulted loans yielded a mean of $67,918 with a standard deviation of $16,552.40. Calculate a 90 percent confidence interval for the mean balance of defaulted loans over the past three years.
A) [66,487, 69,349]
B) [39,299, 96,537]
C) [57,329, 78,507]
D) [61,829, 74,007]
E) [61,518, 74,318]
Correct Answer:
Verified
Correct Answer:
Verified
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