A study was conducted to estimate hospital costs for accident victims who wore seat belts Twenty randomly selected cases have a distribution that appears to be approximately bell shaped with a mean of $9,004 and a standard deviation of $5,629 (based on data from the U S Department of Transportation...

a b Use the upper confidence limit of 11638 as the worst possible hospital cost to th ...

A study was conducted to estimate hospital costs for accident victims who wore seat belts. Twenty randomly

Question:

A study was conducted to estimate hospital costs for accident victims who wore seat belts. Twenty randomly selected cases have a that appears to be approximately bell-shaped with a mean of $9,004 and a standard deviation of $5,629 (based on data from the U.S. Department of Transportation), Use the i to construct the confidence interval estimate of the population mean.
a. Construct the 95% confidence interval for the mean of all such costs.
b. If you are a manager for an insurance company that provides lower rates for drivers who wear seat belts and you want a conservative estimate for a worst-case scenario, what amount should you use as the possible hospital cost for an accident victim who wears a seat belt? Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...