A federal auditor for nationally chartered banks from a random sample of 100 accounts found that the average demand deposit balance at the First National Bank of small town was
$549.82
. If the auditor needed a point estimate for the population mean for all accounts at this bank, what would she use? A
?
The average of
$54.98
for this sample. B
?
The average of $549.82 for this sample. C
?
There is no acceptable value available. D
?
She would survey the total of all accounts and determine the mean.

Question

A federal auditor for nationally chartered banks from a random sample of 100 accounts found that the average demand deposit balance at the First National Bank of small town was

$549.82

. If the auditor needed a point estimate for the population mean for all accounts at this bank, what would she use? A

?

The average of

$54.98

for this sample. B

?

The average of $549.82 for this sample. C

?

There is no acceptable value available. D

?

She would survey the total of all accounts and determine the mean.

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