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A college has 260 full-time employees that are currently covered under the school's health care plan. The average out-of-pocket cost for the employees on the plan is $1,940 with a standard deviation of $510. The college is performing an audit of its health care plan and has randomly selected 30 employees to analyze their out-of-pocket costs. a. Calculate the standard error of the mean. b. What is the probability that the sample mean will be less than $1,890? c. What is the probability that the sample mean will be more than $1,900? d. What is the probability that the sample mean will be between $1,965 and $2,005? a. The standard error of the mean is (Round to two decimal places as needed.) b. The probability that the sample mean will be less than 1,890 is. (Round to four decimal places as needed.) c. The probability that the sample mean will be more than 1,900 is (Round to four decimal places as needed.) d. The probability that the sample mean will be between 1,965 and 2,005 is (Round to four decimal places as needed.)

A college has 260 full-time employees that are currently covered under the school's health care plan. The average out-of-pocket cost for the employees on the plan is $1,940 with a standard deviation of $510. The college is performing an audit of its health care plan and has randomly selected 30 employees to analyze their out-of-pocket costs. a. Calculate the standard error of the mean. b. What is the probability that the sample mean will be less than $1,890? c. What is the probability that the sample mean will be more than $1,900? d. What is the probability that the sample mean will be between $1,965 and $2,005? a. The standard error of the mean is (Round to two decimal places as needed.) b. The probability that the sample mean will be less than 1,890 is. (Round to four decimal places as needed.) c. The probability that the sample mean will be more than 1,900 is (Round to four decimal places as needed.) d. The probability that the sample mean will be between 1,965 and 2,005 is (Round to four decimal places as needed.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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A college has 260 full-time employees that are currently covered under the school's health care plan. The average out-of-pocket cost for the employees on the plan is $1,940 with a standard deviation of $510. The college is performing an audit of its health care plan and has randomly selected 30 employees to analyze their out-of-pocket costs. a. Calculate the standard error of the mean. b. What is the probability that the sample mean will be less than $1,890? c. What is the probability that the sample mean will be more than $1,900? d. What is the probability that the sample mean will be between $1,965 and $2,005? a. The standard error of the mean is (Round to two decimal places as needed.) b. The probability that the sample mean will be less than 1,890 is (Round to four decimal places as needed.) c. The probability that the sample mean will be more than 1,900 is (Round to four decimal places as needed.) d. The probability that the sample mean will be between 1,965 and 2,005 is (Round to four decimal places as needed.)
Transcribed Image Text:A college has 260 full-time employees that are currently covered under the school's health care plan. The average out-of-pocket cost for the employees on the plan is $1,940 with a standard deviation of $510. The college is performing an audit of its health care plan and has randomly selected 30 employees to analyze their out-of-pocket costs. a. Calculate the standard error of the mean. b. What is the probability that the sample mean will be less than $1,890? c. What is the probability that the sample mean will be more than $1,900? d. What is the probability that the sample mean will be between $1,965 and $2,005? a. The standard error of the mean is (Round to two decimal places as needed.) b. The probability that the sample mean will be less than 1,890 is (Round to four decimal places as needed.) c. The probability that the sample mean will be more than 1,900 is (Round to four decimal places as needed.) d. The probability that the sample mean will be between 1,965 and 2,005 is (Round to four decimal places as needed.)
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