Your hospital is negotiating with medical insurance providers, who would like to reduce the amount they pay as reimbursement for hospital stays.  For a particular procedure, they would like to reduce payment by $300 and have patients go home one day earlier.  To see what effect this would have on hospital costs, a random sample of 50 patients who were recently admitted for this procedure was analyzed.  Had they left one day earlier, the average hospital cost would have been $322.44 less, and the standard deviation was found to be $21.71.  Construct a 95% confidence interval for the mean net savings for the hospital, per patient, for the larger population of recent patients.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Your hospital is negotiating with medical insurance providers, who would like to reduce the amount they pay as reimbursement for hospital stays.  For a particular procedure, they would like to reduce payment by $300 and have patients go home one day earlier.  To see what effect this would have on hospital costs, a random sample of 50 patients who were recently admitted for this procedure was analyzed.  Had they left one day earlier, the average hospital cost would have been $322.44 less, and the standard deviation was found to be $21.71.  Construct a 95% confidence interval for the mean net savings for the hospital, per patient, for the larger population of recent patients. 

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