The Average Annual Health Care Cost in a Random Sample

question 40

Multiple Choice

The average annual health care cost in a random sample of 600 U.S.adults is $8562.If the standard deviation for health care costs in the population is $1230, compute the margin of error in a 90% confidence interval estimate of the mean annual health care cost for all U.S.adults.

• A)82.8
• B)86.2
• C)91.3
• D)87.7
• E)90.3

---

Definitions:

Agent

A person or entity authorized to act on behalf of another person or entity, typically in commercial or legal matters.

Scope Of The Agency Relationship

The range of actions and decision-making authority granted to an agent by their principal.

Principal's Liability

Legal responsibility of the principal for the acts of their agent that are carried out within the scope of the agent's authority.

Tort

A legal term for a civil wrong or breach of duty to another person, resulting in loss or harm, and subject to compensation or legal remedy.