Question
Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 18 of its subscribers. It found that the annual health
Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 18 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,650. The standard deviation of the sample was $1,060. (Use t Distribution Table.) |
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.) |
Confidence interval for the population mean yearly premium is between $and $. |
b. | How large a sample is needed to find the population mean within $220 at 98% confidence?(Round up your answer to the next whole number.) |
Sample size |
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