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There were 364 bank robberies in the UK over a 7-year period. The following table showcases a portion of the data collected: Std. Dev 20,330.50 53,510.20 Variable Amount (pounds sterling) Number of bank Number of customers present Number of bank raiders Travel time, from bank to nearest police station 4.557 staff present 5.417 2 1.637 4.336 3.684 0.971 4.028A) Identify and interpret a point estimate for the mean of each of the five aforementioned variables Because the point estimate for the mean of a population is the sample mean, the values are as follows: Amount 20,330.50 pounds Bank staff present 5.417 Customers present 2 Bank raiders 1.637 Travel time 4.557 min.B) Find and interpret a 95% confidence interval for the mean amount stolen. * Std. Dev. Of 53,510. 2 x 2-107, 020.4 20,330.5- 107, 020.4-86,689.9 20, 330.5 + 107, 020.4 = 127, 250.9 As such, we can be 95% confident that the mean amount stolen lies between- 86,689.9 and 127,250.90 pounds. . . C) Find and interpret a 95% confidence interval for the mean number of bank staff present. Std. Dev. Of 4. 336 x 2 - 8.672 5.417-8.672--3.255 5.417 +8.672-14. 089 As such, we can be 95% confident that the mean amount of bank staff present . lies between -3.255 and 14.089 staff members.D) Find and interpret a 95% confidence interval for the mean number of customers present. .Std. Dev. Of 3.684x 2-7.368 2 - 7.368--5.368 2 7.368-9.368 As such, we can be 95% confident that the mean amount of bank customers present lies between -5.368 and 9.368 bank customers.E) Find and interpret a 95% confidence interval for the mean number of bank raiders present. Std. Dev. Of. 971 x 2 -1.942 1.637- 1.942--.305 1.637 1.942-3.579 As such, we can be 95% confident that the mean amount of bank raiders present lies between -.305 and 3.579 bank raiders. . .F) Find and interpret a 95% confidence interval for the mean number of bank raiders present. Std. Dev. of 4.028 x2 - 8.056 4. 557-8.056-3.499 4. 557 + 8.056- 12. 613 As such, we can be 95% confident that the mean amount of travel time from the closest police station lies between -3.499 and 12.613 minutes.

math   Statistics-And-Probability   
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