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Interpret a point estimate for the mean

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Reference no: EM13919627

Variable                                             Mean                      Std. dev.

Amount stolen (pounds sterling)          20,330.5                  53,510.2
Number of bank staff present               5.417                       4.336
Number of customers present               2.000                      3.684
Number of bank raiders                       1.637                       0.971
Travel time, in minutes from bank
To nearest police station                      4.557                       4.028

Bank Robberies: A Statistical Analysis

a. Identify and interpret a point estimate for the mean of each of the five aforementioned variables.

b. Find and interpret a 95% confidence interval for the mean amount stolen.

c. Find and interpret a 95% confidence interval for the mean number of bank staff present at the time of robberies.

d. Determine and interpret a 95% confidence interval for the mean number of customers present at the time of robberies.

e. Determine and interpret a 95% confidence interval for the mean number of bank robberies.

f. Obtain and interpret a 95% confidence interval for the mean travel time from the nearest police station to the bank outlet.

Reference no: EM13919627

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