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Question: A bank wishes to estimate, to within $25, the mean average monthly balance in its checking accounts, with 99.8% confidence. Assuming σ = $250, estimate the minimum size sample required. 12. A retailer wishes to estimate, to within 15 seconds, the mean duration of telephone orders taken at its call center, with 99.5% confidence. In the past the standard deviation of call length has been about 1.25 minutes. Estimate the minimum size sample required. (Be careful to express all the information in the same units.)

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