Solution Found!
Assume that the sample is taken from a large
Chapter 6, Problem 18E(choose chapter or problem)
Problem 18E
Assume that the sample is taken from a large population and the eorrection factor can be ignored.
Medicare Hospital InsuranceThe average yearly Medicare Hospital Insurance benefit per person was $4064 in a recent year. If the benefits are normally distributed with a standard deviation of $460. find the probability that the mean benefit for a random sample of 20 patients is
a. Less than $3800
b. More than $4100
Questions & Answers
QUESTION:
Problem 18E
Assume that the sample is taken from a large population and the eorrection factor can be ignored.
Medicare Hospital InsuranceThe average yearly Medicare Hospital Insurance benefit per person was $4064 in a recent year. If the benefits are normally distributed with a standard deviation of $460. find the probability that the mean benefit for a random sample of 20 patients is
a. Less than $3800
b. More than $4100
ANSWER:
Solution 18E
Step1 of 3:
From the given problem we have:
Here our goal is:
a). We need to find the probability that the patients is less than $3800.
b). We need to find the probability that the patients is more than $4100.
Step2 of 3:
a).
Let us consider a random variable ‘x’ it presents the number of benefits per person. And x follows a normal distribution with parameters ‘’
Then,