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ASSUME A SIMPLE RANDOM SAMPLE HAS BEEN TAKEN,

ASSUME A SIMPLE RANDOM SAMPLE HAS BEEN TAKEN,

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Author: Christine Farr
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Assume a simple random sample has been taken, the population standard deviation is known, and the population is normally distributed. According to a sample of 200 various insurance brokers and health experts, a typical childbirth in the United States costs a mean of $9500. Assume we know from a previous study, the standard deviation of the cost of the births is $2500. Use a 98% confidence level. Use the sample data and confidence level to construct a confidence interval estimate of the population mean m 


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