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Statement of a problem № m433

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Families USA, a monthly magazine that discusses issues related to health and health costs, surveyed 20 of its subscribers. It found that the annual health insurance premiums for a family with coverage through an employer averaged $10,979. The standard deviation of the sample was $1,000. a. Based on this sample information, develop a 90% confidence interval for the population mean yearly premium. b. How large a sample is needed to find the population mean within $250 at 99% confidence?




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