Help pls for this question....
Message posted by Durga (via 165.21.83.250) on April 11, 2001 at 12:05 PM (ET)

The question is stated below. Pls any sort of a small help is appreciable.

Regards,
Durga.

Question:

The POSB Bank is at present reviewing its policy regarding the issue of ststements to current account holders. Under the present system all customers receive a statement each quarter(that is, every three months) as well as having the option of requestiong a statement at any allowed to specify hoe frequently they wish to receive a statement by choosing one of the following four options:
1. No regular statement. 2. Every Month. 3. Every three months. 4. Every six months.

In addition, customers would still have the freedom to request a statement at any other time to avoid having to wait for the arrival of their next regular statement. It has been estimated that there would be at most 600,000 irregular statement requests per year, which should occur more or less evenly throughout the year. At the present time, the bank has approximately 1.2 million current accounts.

To assess the acceptability of the new scheme, a random sample of 150 current account customers was selected and their prefrences as regards the four statement options have been ascertained. The results are as follows:

Preferred frequency:No statement
No. of Customers - 11
Preferred frequency:Every Month statement
No. of Customers - 65
Preferred frequency:Every 3 months statement
No. of Customers - 61
Preferred frequency:Every 6 months statement
No. of Customers - 13

Required:
(i) Determine 95% confidence interval for the true mean number of regular statements per customer per year and explain carefully the meaning of this interval.

(ii) All statements are dispatched daily from the bank's computer center. Under present conditions, there is capacity for 33,000 statements to be issued each day. Assuming that the computer center works for 300 days a year, comment on whether there will be sufficient capacity to cope with the likely number of statements which will have to be issed.

[Hint: Your answer should incorporate an appropriate test of significance and any assumptions that you make should be clearly stated]