Random sample of 60 Twin Cities construction companies to find the information on the costs of their health care plans. The Minnesota Department of Labor reports that historically the mean deductible amount per employee is $502 with a standard deviation of $100.
(a) Compute the standard error of the sample mean for HRC.
(b) What is the chance HRC finds a sample mean between $477 and $527?
(c) Calculate the likelihood that the sample mean is between $492 and $512.