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Question: Families in the USA have a monthly magazine that discusses issues related to health and health costs. After surveying 23 of their subscribers, it was found that the annual health insurance premiums for a family with coverage through an employer averaged $11,400. The standard deviation of the sample was $1,032.
a) Based on this sample information, develop a 99% confidence interval for the population mean yearly premium. (Round up your answers to the next whole number)
Note: Confidence interval for the population mean yearly premium is between $ and $.
b) How large a sample is needed to find the population mean within $220 at 99% confidence?
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Suppose the inspector is unhappy with the previous result and would like to resample. How many rolls should be sampled to estimate the mean tensile strength within 1.5 PSI with 95% confidence?
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Find a 99% confidence interval for the population mean annual number of reported larceny cases in such communities. What is the margin of error? (Round your answers to one decimal place.)
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The number of items rejected daily by the manufacturer because of defects for last 30 days are:
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Students in a statistics class at a large state university were given the survey in which one question asked was age (in years); one student was a retired person, and her age was an "outlier".
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