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Point estimate for the mean

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At the beginning of this chapter, on page 315, we presented summary statistics for data on bank robberies for five variables: amount stolen, number of bank staff present, number of customers present, number of bank raiders, and travel time from the bank to the nearest police station. These summary statistics were obtained by three researchers for data from a sample of 364 bank raids over a several-year period in the United Kingdom. For all bank raids in the United Kingdom during the years in question:

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.

Reference no: EM131196365

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