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Likelihood that the sample mean

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Reference no: EM131050631

HRC surveyed a random sample fo 74 Twin Cities construction companies to find information on the costs of their health care plans. One of the item being traced is the annual deductible that employees must pay. The Dept of Labor reports that historically the mean deducible per employee is $502 which Stand Dev of $120. What is the change HRC finds a sample mean between $477 and $527? Calculate the likelihood that the sample mean is between $492 and $512. And what is the probability the sample mean is greater than $550?

Reference no: EM131050631

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