Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Nationwide, the amount charged by doctors for performing a particular minor surgical procedure averages $1220 and varies with a standard deviation of $300. We randomly

Nationwide, the amount charged by doctors for performing a particular minor surgical procedure averages $1220 and varies with a standard deviation of $300. We randomly select 100 bills from the population of all bills charged for this surgery. Let X represent the average amount charged for these 100 surgical procedures.

a) Find the mean and standard deviation of the sample mean or X ?

b) Find the probability that the average amount charged over these 100 procedures is more than $1200?

c)Find the probability that the average amount charged over these 100 procedures is between $1200 and $1250?

d) The 95% confidence interval for the true average surgical charge is between what to values? Use X=1200.

Please show your work.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Real Analysis Foundations And Functions Of One Variable

Authors: Miklos Laczkovich, Vera T Sós

1st Edition

1493927663, 9781493927661

More Books

Students also viewed these Mathematics questions

Question

What is vulnerability assessment?

Answered: 1 week ago