Question
56. Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 20 of its subscribers. It found that the annual
56. Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 20 of its subscribers. It found that the annual health insurance premi-ums for a family with coverage through an employer averaged $10,979. The standard deviation of the sample was $1,000. a. Based on this sample information, develop a 90% confidence interval for the popula-tion mean yearly premium. b. How large a sample is needed to find the population mean within $250 at 99% confidence?
66. Near the time of an election, a cable news service performs an opinion poll of 1,000 prob-able voters. It shows that the Republican contender has an advantage of 52% to 48%. a. Develop a 95% confidence interval for the proportion favoring the Republican candidate. b. Estimate the probability that the Democratic candidate is actually leading. c. Repeat the above analysis based on a sample of 3,000 probable voters.
71. Refer to the Lincolnville School District bus data. a. Develop a 95% confidence interval for the mean bus maintenance cost. b. Develop a 95% confidence interval for the mean bus odometer miles. c. make abusiness memo to the state transportation official to report your results.
Century National BankRefer to the description of Century National Bank at the end of the Review of Chapters 1-4 on page 129. When Mr. Selig took over as president of Century several years ago, the use of debit cards was just beginning. He would like an update on the use of these cards. Develop a 95% confi-dence interval for the proportion of customers using these cards. On the basis of the confidence interval, is it reason-able to conclude that more than half of the customers use a debit card? Make abrief report interpreting the results.
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