Population mean cost, What is the 95% confidence interval

Population mean cost

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Reference no: EM1316295

Rising prescription drug prices caused the U.S. Congress to consider laws that would force pharmaceutical companies to offer prescription discounts to senior citizens without drug benefits. The House Government Reform Committee provided data on the prescription cost of some of the most widely used drugs (Newsweek, May 8, 2000). Assume the following data show a sample of the prescription cost in dollars for Zocor®, a drug used to lower cholesterol: 110, 112, 115, 99, 100, 98, 104, and 126. Assuming a normal population distribution, what is the 95% confidence interval estimate of the population mean cost for a prescription of Zocor? _____________________ .

Reference no: EM1316295

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