Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 v < > OnlinePharma.CA, an online pharmacy, promises to deliver prescriptions to its customers for free. Online consultations with their pharmacists and doctors are

2 v < > OnlinePharma.CA, an online pharmacy, promises to deliver prescriptions to its customers for free. Online consultations with their pharmacists and doctors are also offered. Recently, the company's internal audit department selected a random sample of 30 prescriptions issued throughout the system. The objective of the sampling was to estimate the average dollar value of all prescriptions issued by the company. The sampling resulted in a sample mean of $52.90 and the standard deviation of $11.20. Use this sample information to find a 98% confidence interval for the true average sales value for prescriptions issued by OnlinePharma.CA. Assume that the values are approximately normally distributed and use the t distribution. (a) What is df (degrees of freedom} in this case? (if = C] For part (b), round your answer to 3 decimal places. For part (c), round your answers to 2 decimal places. {b} What is the 98% confidence interval for the true average sales value for prescriptions issued by OnlinePharma.CA

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

From Calculus To Analysis

Authors: Steen Pedersen

1st Edition

3319136410, 9783319136417

More Books

Students also viewed these Mathematics questions

Question

2. Recognize students who are helpful.

Answered: 1 week ago

Question

What online recruitment methods are available?

Answered: 1 week ago