The banking industry has suffered in recent years because of a high default rate on energy-related loans. The standard deviation is $10,000 . How large a sample must you take from banking records to be 98% confident that your estimate for the amount of these defaults is within $1000 of the true mean loan amount?
a. 567
b. 233
c. 240
d. 543
e. 890
D
Business
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