A Local Bank Needs Information Concerning the Savings Account Balances

Multiple Choice

A local bank needs information concerning the savings account balances of its customers. A random sample of15 accounts was checked. The mean balance was $686.75 with a standard deviation of $256.20. Find a 98%confidence interval for the true mean. Assume that the account balances are normally distributed. Round to thenearest cent.

A) ($513.17, $860.33)
B) ($238.23, $326.41)
C) ($326.21, $437.90)
D) ($487.31, $563.80)