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To develop a 90 percent confidence interval for the population mean.

Families USAa 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 necessary to find the population mean within $250 at 99 percent confidence?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922192

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