This paper circulates around the core theme of Based on this sample information, develop a 90% confidence interval for the population mean yearly premium.How large sample is needed to find the population mean within $250 at 99% confidence? together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 99. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
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% confidence interval for the
population mean yearly premium.
b. How
large sample is needed to find the population mean within $250 at 99%
confidence?