SOLUTION: A random sample of health maintenance organizations (HMOs) was selected. For each HMO, the co-payment (in dollars) for a doctor's office visit was recorded. The results are as fol
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Question 548826: A random sample of health maintenance organizations (HMOs) was selected. For each HMO, the co-payment (in dollars) for a doctor's office visit was recorded. The results are as follows:
9,11,9,7,8,6,11,10,5,12,5,7,6,12,12,9,7,5,10,11
Under the assumption that co-payment amounts are normally distributed, find a confidence interval for the mean co-payment amount in dollars.
Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.
a)What is the lower limit of the confidence interval?
b)What is the upper limit of the confidence interval?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A random sample of health maintenance organizations (HMOs) was selected. For each HMO, the co-payment (in dollars) for a doctor's office visit was recorded. The results are as follows:
9,11,9,7,8,6,11,10,5,12,5,7,6,12,12,9,7,5,10,11
Under the assumption that co-payment amounts are normally distributed, find a confidence interval for the mean co-payment amount in dollars.
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sample mean = x-bar = :8.6
sample std = s = 2.48
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Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place.
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Margin of error if confidence = 95%
ME = 1.96*2.48/sqrt(20) = 1.087
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a)What is the lower limit of the confidence interval?:x-bar-ME
b)What is the upper limit of the confidence interval?:x-bar+ME
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Cheers,
Stan H.
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