Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 19 of its subscribers. It found thatthe annual health insurance premiums for a family with coverage through an employer averaged $10,800, The standard deviation ofthe sample was $1.095. (Use LDistribution Table)a. Based on this sample information, develop a 99% confidence interval for the population mean yearly premium. (Round youranswers to the nearest whole dollar amount.)Confidence interval for the population mean yearly premium isandbetween

In insights, the standard deviation is a proportion of the measure of variety or scattering of a…

the annual nea the sample was $1,095. (Use LDistribution Table) a. Based on this sample information, develop a 99% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole dollar amount.)

the annual nea the sample was $1,095. (Use LDistribution Table) a. Based on this sample information, develop a 99% confidence interval for the population mean yearly premium. (Round your answers to the nearest whole dollar amount.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Given two dependent random samples with the following results: Population 1 22 39 20 34 43 17 45 Population 2 33 45 35 46 35 27 37 Use this data to find the 98% confidence interval for the true difference between the population means. Let d = (Population 1 entry)-(Population 2 entry). Assume that both populations are normally distributed. Co Step 2 of 4: Find the critical value that should be used in constructing the confidence interval. Round your answer to three decimal places.
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Please see attachment and type out the correct answer with proper explanation of it. Will give you upvotes
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