We have N=100 claims for dental work. We choose n = 10 claims to evaluate our billing. We know, or believe, that claims are normally distributed. H= $272 We know that o = $53.2 and from our sample we calculate $277. a) What is the best estimate of u? b) Find the probability that 2 $277 What important point about your data did you have to take into consideration? (You only c) need a one or two sentence answer here).

We have N=100 claims for dental work. We choose n = 10 claims to evaluate our billing. We know, or believe, that claims are normally distributed. H= $272 We know that o = $53.2 and from our sample we calculate $277. a) What is the best estimate of u? b) Find the probability that 2 $277 What important point about your data did you have to take into consideration? (You only c) need a one or two sentence answer here).

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter7: Uncertainty

Section: Chapter Questions

Problem 7.7P

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