Question:The
high cost of health care is a matter of major concern for a large
number...
Question
The
high cost of health care is a matter of major concern for a large
number...
The
high cost of health care is a matter of major concern for a large
number of families. A random sample of 25 families selected from an
area showed that they spend an average of $253 per month on health
care with a standard deviation of $47. Assume that the montly
health care expenditure of all families in this area have a normal
distribution.
construct a 98% confidence interval for the mean health care
expenditure per month incurred by all families in this area