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Question 1.
For a sample 1000 Twitter users, Elon Musk's research department reports an average age of 39. If the population standard deviation is 9.5 years, what would be the upper bound for a 90% confidence interval estimate of the mean age of all Twitter users?
Question 2.
The average annual health care cost in a random sample of 600 U.S. adults is $8562. If the standard deviation for health care costs in the population is $1230, compute the margin of error in a 90% confidence interval estimate of the mean annual health care cost for all U.S. adults.
This document contains various important questions and their appropriate answers in the subject field of Economics.
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