Solved: The high cost of health care is a matter of major concern, Basic Statistics

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The high cost of health care is a matter of major concern

Question: The high cost of health care is a matter of major concern for a large number of families. A random sample of 25 families selected from an area showed that they spend an average of $253 per month on health care with a standard deviation of $47. Make a 98% confidence interval for the mean health care expenditure per month incurred by all families in this area. Assume that the monthly health care expenditures of all families in this area have a normal distribution.

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Basic Statistics: The high cost of health care is a matter of major concern

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