Interpret the confidence interval.

A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution:
$2183

Question

Interpret the confidence interval. 
 
 A credit union took a random sample of 40 accounts and yielded the following 90% confidence interval for the mean checking account balance at the institution: 
 $2183 < μ(balance) < $3828.

Answer

If we took random samples of cheque accounts at this credit union, about nine out of ten of them would produce this confidence interval.

Answer

About 9 out of 10 people have a cheque account balance between $2183 and $3828.

Answer

We are 90% sure that the mean balance for cheque accounts in the sample was between $2183 and $3828.

Answer

We are 90% confident that the interval between $2183 and $3828 contains the true mean cheque account balance at this credit union.

Answer

We are 90% confident that the mean cheque account balance in Australia is between $2183 and $3828.

Crowdly

Interpret the confidence interval. A credit union took a random sample of 40...

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