Question 929471: The Community banks are banks with less than a billion dollars of assets. The Community Bankers Council of the American Bankers Association conducts an annual survey of community banks. For the 110 Community Banks that made up the random sample survey, the mean assets were 220 million dollars. That is, the sample mean was equal to 220 million dollars with a sample standard deviation of 145 million dollars. Based upon this data, a 95% confidence interval for the mean assets for all Community Banks is found to be (192.9 , 247.1). Which one of the following statements is correct?
A We are 95% confident that the mean assets of the 110 community banks falls between 192.9 and 247.1
B 95% of all Community Banks have assets between 192.9 and 247.1
C In repeated sampling, 95% of the samples created would have a mean between 192.9 and 247.1
D We are 95% confident that the mean assets for all Community Banks falls in the interval 192.9 and 247.1
E None of the above statements are correct
Answer by ewatrrr(24785)   (Show Source):
You can put this solution on YOUR website! a 95% confidence interval for the mean assets for all Community Banks is found to be (192.9 , 247.1).
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D. We are 95% confident that the mean assets for all Community Banks falls in the interval 192.9 and 247.1
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