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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?

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