The high cost of health care is a matter of major concern for a large number of families. A random sample of 25 families found that they spend an average of $143 per month and the standard deviation of the sample was found to be $28. Find the 98% confidence interval for the true mean cost of health care per month. Assume the underlying population from which the sample is drawn is known to be normally distributed. Will we use z or t? ________ Why? ______________________________________________________ What is the z or t critical value based on 98% confidence? ________ What is the standard deviation of the sampling distribution of the mean? ________ Calculate the margin of error: E = ________________________

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Q: The foot lengths of a random sample of 53 men had a mean of 27 cm and a standard deviation of 2 cm,…

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