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Exercise 9-48 (Algo) (LUY-4) A website dedicated to issues related to health care and health care costs surveyed 22 of its subscribers. It found
Exercise 9-48 (Algo) (LUY-4) A website dedicated to issues related to health care and health care 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. (Use Distribution Table) (Round your answers to the nearest whole dollar amount.) Confidence interval for the population mean yearly premium is between and b. How large a sample is needed to find the population mean within $240 at 98% confidence? (Use zDistribution Table.) (Round your answer up to the next whole number.) Sample size
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