Question

The amounts in the medical bills of the employees of XYZ Corporation is normally distributed with...

The amounts in the medical bills of the employees of XYZ Corporation is normally distributed with a population standard deviation of $80. A sample of 36 employees is randomly selected and the average(X) medical bill is found to be $500.
(a) Find a 95% confidence interval estimate of the population mean µ?

(b) What does this interval mean?

(c) What is the critical value and the margin of error of this confidence interval?

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. The amounts in the medical bills of the employees of XYZ Corporation is normally distributed...
1. The amounts in the medical bills of the employees of XYZ Corporation is normally distributed with a population standard deviation of $80. A sample of 36 employees is randomly selected and the average(X) medical bill is found to be $500. (a) Find a 95% confidence interval estimate of the population mean µ? (b) What does this interval mean? (c) What is the critical value and the margin of error of this confidence interval?
The monthly untily bills in a city are normally distributed with a mean of $100 with...
The monthly untily bills in a city are normally distributed with a mean of $100 with standard deviation of $15. find the probability that a randomly selected utility bill is less than $65? between $80 and $90? and more than $100?
The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and...
The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard deviation of ​$16. Find the probability that a randomly selected utility bill is​ (a) less than ​$67​, ​(b) between ​$80 and ​$100​, and​ (c) more than ​$110. ​(a) The probability that a randomly selected utility bill is less than ​$67 is nothing. ​(Round to four decimal places as​ needed.) ​(b) The probability that a randomly selected utility bill is between ​$80 and...
Suppose overtime of employees at Company XYZ are normally distributed and have a known population standard...
Suppose overtime of employees at Company XYZ are normally distributed and have a known population standard deviation of 4 hours per month and an unknown population mean. A random sample of 21 employees is taken and gives a sample mean of 61 hours per month. Find the confidence interval for the population mean with a 98% confidence level. Round your answer to TWO decimal places.
The amounts of time employees at a large corporation work each day are normally​ distributed, with...
The amounts of time employees at a large corporation work each day are normally​ distributed, with a mean of 7.8 hours and a standard deviation of 0.36 hour. Random samples of size 25 and 37 are drawn from the population and the mean of each sample is determined. What happens to the mean and the standard deviation of the distribution of sample means as the size of the sample​ increases? If the sample size is nequals25​, find the mean and...
The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and...
The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard deviation of ​$14. Find the probability that a randomly selected utility bill is​ (a) less than ​$67​, ​(b) between ​$84 and ​$90​, and​ (c) more than ​$120.
The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and...
The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard deviation of ​$12. Find the probability that a randomly selected utility bill is​ (a) less than ​$65​, ​(b) between ​$84 and ​$100​, and​ (c) more than ​$130.
Shards of clay vessels were put together to reconstruct rim diameters of the original ceramic vessels...
Shards of clay vessels were put together to reconstruct rim diameters of the original ceramic vessels found at the Wind Mountain archaeological site. A random sample of 10 ceramic vessels gave the yielded a mean of 15.8 cm and a standard deviation of 3.5 cm. A) Find the critical value used in computing the Margin of Error for an 80% confidence interval. B) Calculate the Margin of Error. C) Compute an 80% confidence interval for the population mean µ of...
The amounts of time employees at a large corporation work each day are normally​ distributed, with...
The amounts of time employees at a large corporation work each day are normally​ distributed, with a mean of 7.7 hours and a standard deviation of 0.36 hour. Random samples of size 22 and 37 are drawn from the population and the mean of each sample is determined. What happens to the mean and the standard deviation of the distribution of sample means as the size of the sample​ increases? 1.If the sample size is n=22 find the mean and...
The amounts of 6 restaurant bills and the corresponding amounts of the tips are given in...
The amounts of 6 restaurant bills and the corresponding amounts of the tips are given in the below. Bill 97.34 32.98 52.44 49.72 64.30 106.27 Tip 16.00 4.50 7.00 5.28 7.70 16.00 Use a 0.05 confidence level to find the following: test statistic r = ? test statistic t = ? critical value t = ? the regression equation is y^ =    +      x If the amount of the bill is $95, the best prediction for the amount of the...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT