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Q6 Problem 5 11 Points The consumer Expenditure Survey collects information on buying habits of US consumers. A random sample of 250 households was drawn

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Q6 Problem 5 11 Points The consumer Expenditure Survey collects information on buying habits of US consumers. A random sample of 250 households was drawn (in 2012) and the average amount that a household spends on health insurance was calculated to be $2,148. While the distribution of healthcare expenditure in the US is not known, it is believed to follow a distribution with a non- extreme shape. Assume that the population standard deviation for healthcare expenditure is $675. Q6.1 Problem 5 A 5 Points What is the 95% confidence interval for the true mean health insurance expenditure in 2012? In your response, circle the z* value you used and the confidence interval you calculated. Write a one sentence interpretation of your calculated confidence interval (make sure to include context). Please select file(s) Select file(s) Q6.2 Problem 5 B 4 Points Based on the interval from part A, is it reasonable to conclude that the average health insurance expenditure in 2012 is different from our hypothesized claim of $2,100? Explain how you came to this conclusion. Enter your answer here Q6.3 Problem 5 C 2 Points A similar study is being planned to estimate the average health insurance expenditure in 2021. The researcher would like to be able to limit the resulting 95% confidence interval to a total width of $250. How many households should be included in this study? On = 112 On = 29 On = 113 On = 79

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