At a 01 can it be concluded that the average cost of


The Medical Rehabilitation Foundation reports that the average cost of rehabilitation for stroke victims is at least $24,500. To see if the average cost might be different at a particular hospital, a researcher selects a random number sample of 50 stroke victims and finds that the average cost is $25,225. The standard deviation of the population is $1,300. 

a) At α = .01, can it be concluded that the average cost of stroke rehabilitation at a particular hospital is at least $24,500?

b) Construct a 90% confidence interval

Solution Preview :

Prepared by a verified Expert
Mathematics: At a 01 can it be concluded that the average cost of
Reference No:- TGS02723216

Now Priced at $10 (50% Discount)

Recommended (94%)

Rated (4.6/5)