Developing a 90 Percent Confidence Interval for the Population Mean
Nonfiction, Social & Cultural Studies, Social Science, Statistics
| 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?
"
"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?
"
