QuickHelper

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About QuickHelper

Levels Tought:
Elementary,High School,College,University,PHD

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Accounting,Applied Sciences See all
Accounting,Applied Sciences,Business & Finance,Chemistry,Engineering,Health & Medical Hide all
Teaching Since: May 2017
Last Sign in: 356 Weeks Ago, 3 Days Ago
Questions Answered: 20103
Tutorials Posted: 20155

Education

  • MBA, PHD
    Phoniex
    Jul-2007 - Jun-2012

Experience

  • Corportae Manager
    ChevronTexaco Corporation
    Feb-2009 - Nov-2016

Category > Accounting Posted 09 Jun 2017 My Price 9.00

A local health care company has asked you to determine

Question description

 

A local health care company has asked you to determine the average costs of elderly day-care. They provided you with a random sample of 10 facilities. This shows a mean of $250 per week, with a standard deviation of $25. Note that the population parameters are unknown.
a. What is the point estimate for the population mean?
b. What is the 90% confidence interval for the population mean?
As you are presenting your results to the company, you realize that they have no idea what a confidence interval is.
c. Explain how the confidence interval should be interpreted, using your answer (b) as point of departure.

Answers

QuickHelper
(10)
Status NEW Posted 09 Jun 2017 10:06 AM My Price 9.00

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