Question
Happy-to-Help.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
Happy-to-Help.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 $51.35 and the standard deviation of $14.10. Use this sample information to find a 94% confidence interval for the true average sales value for prescriptions issued by Happy-to-Help.CA. Assume that the values are approximately normally distributed and use the t distribution.
(a) What is df (degrees of freedom) in this case? df==
For part (b), keep your answer with 3 decimal places.
(b) Find t2=2=
For part (c), round the confidence interval endpoints to 2 decimal places.
(c) What is the 94% confidence interval for the true average sales value for prescriptions issued by Happy-to-Help.CA? <<<<
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started