Homework SourseFamilies USA a monthly magazine that discusses issues relate
Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 22 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,200. The standard deviation of the sample was $990
a. Based on this sample information, develop a 98% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole number.)
between $_____ and $____
b. How large a sample is needed to find the population mean within $240 at 98% confidence? (Round up your answer to the next whole number.)
| Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 22 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,200. The standard deviation of the sample was $990 a. Based on this sample information, develop a 98% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole number.) between $_____ and $____ b. How large a sample is needed to find the population mean within $240 at 98% confidence? (Round up your answer to the next whole number.) |
Solution
a) N Mean SE Mean 95% CI
22 10200 211 (9786, 10614)
b) n= 70327093
