5. Budget lapsing occurs when unspent funds do not carry over from one budgeting period to the next. Because budget lapsing often leads to a spike in expenditures at the end of the fiscal year, the researchers recorded expenses per full-time equivalent employee for each in a sample of 1,751 army hospitals. The sample yielded the following summary statistics: x $6,563 and s $2,484. Estimate the mean expenses for full-time equivalent employee of all US army hospitals using a 90% confidence interval. Interpret the result.

Question
5. Budget lapsing occurs when unspent funds do not carry over from one budgeting
period to the next. Because budget lapsing often leads to a spike in expenditures at the
end of the fiscal year, the researchers recorded expenses per full-time equivalent
employee for each in a sample of 1,751 army hospitals. The sample yielded the following
summary statistics: x $6,563 and s $2,484. Estimate the mean expenses for full-time
equivalent employee of all US army hospitals using a 90% confidence interval. Interpret
the result.

Image Transcription

5. Budget lapsing occurs when unspent funds do not carry over from one budgeting period to the next. Because budget lapsing often leads to a spike in expenditures at the end of the fiscal year, the researchers recorded expenses per full-time equivalent employee for each in a sample of 1,751 army hospitals. The sample yielded the following summary statistics: x $6,563 and s $2,484. Estimate the mean expenses for full-time equivalent employee of all US army hospitals using a 90% confidence interval. Interpret the result.

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