Author Question: If you are sampling from a very large population, a doubling of the sample size will reduce the ... (Read 172 times)

gbarreiro · **on:** Jun 24, 2018

If you are sampling from a very large population, a doubling of the sample size will reduce the standard error of the sampling distribution by one-fourth.

Indicate whether the statement is true or false

Question 2

Suppose a study of 196 randomly sampled privately insured adults with incomes over 200 of the current poverty level is to be used to measure out-of-pocket medical expenses for prescription drugs for this income class.

The sample data are in the file Drug Expenses.Based on the sample data, construct a 95 confidence interval estimate for the mean annual out-of-pocket expenditures on prescription drugs for this income class. Interpret this interval.A) (162.08, 172.96)
B) (163.50, 171.54)
C) (164.19, 170.85)
D) (161.97, 173.07)