A website dedicated to issues related to health care and health care costs surveyed 20 of its
Question:
A website dedicated to issues related to health care and health care costs surveyed 20 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,979. The standard deviation of the sample was $1,000. Based on this sample information, develop a 90% confidence interval for the population mean yearly premium. How large a sample is needed to find the population mean within $250 at 99% confidence?
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a The confidence interval is calculated as Mean t2 stdev ...View the full answer
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Related Book For 
Basic Statistics In Business And Economics
ISBN: 9781260597578
10th Edition
Authors: Douglas A. Lind, William G. Marchal, Samuel A. Wathen
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