(A) Construct a 90% Confidence Interval Estimate of the Mean

question 64

Essay

(A) Construct a 90% confidence interval estimate of the mean family dental expenses for all employees of this corporation.
(B) What assumption about the population distribution must be made to answer (A)?
(C) Interpret the 90% confidence interval constructed in (A).
(D) Suppose you used a 95% confidence interval in (A). What would be your answer?
(E) Suppose the fourth value were 593 instead of 93. What would be your answer to (A)? What effect does this change have on the confidence interval?
(F) Construct a 90% confidence interval estimate for the standard deviation of family dental expenses for all employees of this corporation.
(G) Interpret the 90% confidence interval constructed in (E).

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Definitions:

Offer

A proposal presented by one party to another as a basis for negotiations or the formation of a contract.

Mailbox Rule

A legal principle that deems an offer accepted once the acceptance has been communicated, even if it has not yet been received by the offeror.

Letter Of Revocation

A formal document that annuls, withdraws, or cancels a previously granted power or authority.

Letter Of Acceptance

A formal document or communication acknowledging and agreeing to the terms of a proposal or offer.