The banking industry has suffered in recent years because of a high default rate on mortgage and consumer loans.

The banking industry has suffered in recent years because of a high default rate on mortgage 

and consumer loans. How large a sample must be taken from banking records to be 98% 

confident that the estimate for the amount of these defaults is within $1000 of the true mean loan 

amount? Assume the population standard deviation is $10,000. 

A) 240 B) 567 C) 233 D) 543