Multiple Choice
The banking industry has suffered in recent years because of a high default rate on energy-related loans.The standard deviation is $10,000.How large a sample must you take from banking records to be 98% confident that your estimate for the amount of these defaults is within $1000 of the true mean loan amount?
A) 567
B) 233
C) 240
D) 543
E) 890
Correct Answer:
Verified
Correct Answer:
Verified
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