Developing a 90 Percent Confidence Interval for the Population Mean

Nonfiction, Social & Cultural Studies, Social Science, Statistics
Cover of the book Developing a 90 Percent Confidence Interval for the Population Mean by Homework Help Classof1, Classof1
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Author: Homework Help Classof1 ISBN: 1230000129654
Publisher: Classof1 Publication: May 2, 2013
Imprint: Language: English
Author: Homework Help Classof1
ISBN: 1230000129654
Publisher: Classof1
Publication: May 2, 2013
Imprint:
Language: English

"Families USA, a monthly magazine that discusses issues related to health and health 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.
a. Based on this sample information, develop a 90 percent confidence interval for the population mean yearly premium.
b. How large a sample is needed to find the population mean within $250 at 99 percent confidence?
"

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"Families USA, a monthly magazine that discusses issues related to health and health 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.
a. Based on this sample information, develop a 90 percent confidence interval for the population mean yearly premium.
b. How large a sample is needed to find the population mean within $250 at 99 percent confidence?
"

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