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ASSIGNMENT 10

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.

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Researchers obtained exclusive data from the British Bankers’ Association. In one aspect of their study, they analyzed the data fo...
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