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Javier states that he is 99% confident that the true population mean price per vial of insulin is between $37 and $64. What is Javier's
Javier states that he is 99% confident that the true population mean price per vial of insulin is between $37 and $64. What is Javier's point estimate? Standard deviation of $27 alpha = 0.01 x-bar = $37 Mu = $37, $64 Standard deviation = $101 x-bar = $50.50 Level of significance = 99% Mu = $101 Mu = 99% of $37 = $36.63 x-bar = $101
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