How large sample is needed to find population mean

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Reference no: EM13146356

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 $1000.

A. Based on this sample information, develop a 90 percent confidence interval for the population mean yearly premium.
B. How large a sample is needed to find the population mean within $250 at 99 percent confidence?

Reference no: EM13146356

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