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Based on this sample information develop a 95 percent

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Reference no: EM13627286

Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 19 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,646. The standard deviation of the sample was $994.

a. Based on this sample information, develop a 95 percent confidence interval for the population mean yearly premium.

b. How large a sample is needed to find the population mean within $233 at 99 percent confidence?

Reference no: EM13627286

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