What is the best estimate of the population mean

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Families USA, a monthly magazine that discusses related to health and health costs, surveyed 30 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $16,469. The standard deviation of the sample was $2,000.

(a) What is the population mean? What is the best estimate of the population mean?

(b) Based on this sample information, develop a 95% confidence interval for the population mean yearly premium.

Reference no: EM13245783

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