An increase in the rate of consumer savings frequently is
Chapter 8, Problem 22E(choose chapter or problem)
Problem 22E
An increase in the rate of consumer savings frequently is tied to a lack of confidence in the economy and is said to be an indicator of a recessional tendency in the economy. A random sampling of n = 200 savings accounts in a local community showed the mean increase in savings account values to be 7.2% over the past 12 months, with standard deviation 5.6%. Estimate the mean percentage increase in savings account values over the past 12 months for depositors in the community. Place a bound on your error of estimation.
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