Aetna, a major health insurance company, would like to estimate the average wait time for a patient
Question:
Aetna, a major health insurance company, would like to estimate the average wait time for a patient seeking emergency room services. A random sample of 33 emergency room patients had an average wait time of 222 minutes with a sample standard deviation of 76 minutes. Determine the confidence interval to estimate the average wait time for the following confidence levels:
a. 90%
b. 95%
c. 99%
d. How does the confidence level impact the precision of the estimate?
e. What assumptions need to be made in conjunction with this analysis?
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a b c d The higher the confidence level ...View the full answer
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