Families USA , a monthly magazine that discusses issues related to health and he
ID: 3381728 • Letter: F
Question
Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 22 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,200. The standard deviation of the sample was $990
a. Based on this sample information, develop a 98% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole number.)
between $_____ and $____
b. How large a sample is needed to find the population mean within $240 at 98% confidence? (Round up your answer to the next whole number.)
Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 22 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,200. The standard deviation of the sample was $990
a. Based on this sample information, develop a 98% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole number.)
between $_____ and $____
b. How large a sample is needed to find the population mean within $240 at 98% confidence? (Round up your answer to the next whole number.)
Explanation / Answer
a) N Mean SE Mean 95% CI
22 10200 211 (9786, 10614)
b) n= 70327093
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