Confidence interval to estimate difference in mean deposits

Reference no: EM1393403

First National Bank and City National Bank are competing for customers who would like to open IRAs. Thirty two weeks are randomly selected for First National Bank and another 32 weeks are randomly selected for City National Bank. The total amount deposited into IRAs is noted for each week. A summary of data (deposits in thousands of dollars) from the survey is as follows: First National 1 = 4.1, σ1 = 1.2; City National 2 = 3.5, σ2 = 0.9. Use a 98% confidence interval to estimate the difference in the mean weekly deposits into IRAs for each bank.

Reference no: EM1393403

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