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QUESTION
3)Banking fees have received much attention during the recent economic recession as banks looked for ways to
3)Banking fees have received much attention during the recent economic recession as banks looked for ways to
recover from the crisis. A sample of 30 customers paid an average fee of $12.55 per month on their level interest-bearing checking accounts. Assume the population standard deviation is $1.75.
3a) construct a 95% confidence interval to estimate the average fee for the population.
3b) what is the margin of error for this interval?
