Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

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

Have any Question? 


Related Questions in Statistics and Probability

Cards are drawn from a standard 52-card deck until the

Cards are drawn from a standard 52-card deck until the third club is drawn. After each card is drawn, it is put back in the deck and the cards are reshuffled so that each card drawn is independent of all others. (a) Find ...

A random variable x has a gaussian pdf with mean 5 and unit

A random variable, X, has a Gaussian PDF with mean 5 and unit variance. We measure 10 independent samples of the random variable. (a) Determine the expected value of the sample mean. (b) Determine the variance of the sam ...

Let be a random variable that follows a poisson

Let be a random variable that follows a Poisson distribution, so that for some constant α its PMF is Let be another random variable that, given  M =m , is equally likely to take on any value in the set  (a) Find the join ...

A sequence of zero mean unit variance independent random

A sequence of zero mean unit variance independent random variables,   are input to a filter that produces an output sequence according toC For initialization purposes taken to be zero. (b) Now let the variance of the  Fi ...

A certain disease has an incidence rate of 03 if the false

A certain disease has an incidence rate of 0.3%. If the false negative rate is 6% and the false positive rate is 4%, compute the probability that a person who tests positive actually has the disease. Please include detai ...

Let x t be a wide sense stationary random process that is

Let X (t) be a wide sense stationary random process that is ergodic in the mean and the autocorrelation. However   X (t) is not zero-mean.   where C is a random variable independent of X (t) and is not zero-mean. Show th ...

Statistics masters levelbusiness research part

Statistics Masters Level Business Research Part 1 Introduction New Wave is an American telecommunications company that provides wireless services. It is a new wireless network operator in the United States and currently ...

The number of cars approaching a toll booth in a minute

The number of cars approaching a toll booth in a minute follows a geometric random variable with a mean of 2 cars/minute. The time it takes the toll collector to serve each car is an exponential random variable with a me ...

Use the matlab randn function to generate a large number of

Use the MATLAB randn function to generate a large number of samples generated according to a Gaussian distribution. Let A be the event A = he sample is greater than 1.5}. Of those samples that are members of the event , ...

Two random variables are jointly gaussian with means of

Two random variables are jointly Gaussian with means of μ X =2, μ Y =-3 variances of σ 2 X =1, σ 2 Y =4, and a covariance of Cov(X,Y)= -1. (a) Write the form of the joint PDF of these jointly Gaussian random variables. ( ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate