The high cost of health care is a matter of major concern for a large number of families. A random sample of 25 families selected from an area showed that they spend an average of $271 per month on health care with a standard deviation of $48. Make a 95 % confidence interval for the mean health care expenditure per month incurred by all families in this area. Assume that the monthly health care expenditures of all families in this area have a normal distribution. Note 1: Your confidence interval should be given in the format of (a, b) where a and b are two numbers. Note 2: Keep 2 decimal places in your answer for the confidence interval.

The high cost of health care is a matter of major concern for a large number of families. A random sample of 25 families selected from an area showed that they spend an average of $271 per month on health care with a standard deviation of $48. Make a 95 % confidence interval for the mean health care expenditure per month incurred by all families in this area. Assume that the monthly health care expenditures of all families in this area have a normal distribution. Note 1: Your confidence interval should be given in the format of (a, b) where a and b are two numbers. Note 2: Keep 2 decimal places in your answer for the confidence interval.

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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