### Determining essential sample size for health insurance

Assignment Help Basic Statistics
##### Reference no: EM1323139

Q1) Owner of Limp Pines Resort desired to know average age of its clients. Random sample of 25 tourists is taken. It illustrates a mean age of 46 yrs. with stand. dev. Of 5 yrs. Width of a 98% Cl for true mean cliet age is approximately..............yrs.

a) +or-2.06     b) +or-2.33      c) +or-2.49       d) +or-2.79

Q2) What sample size would be needed to evaluate true proportion of American female business executives who prefer title "Ms.", with an error of ±0.025 and 98 percent confidence

Q3) Financial institution desires to evaluate mean because balances owed by its credit card customers. Population standard deviation is evaluated to be \$300. If 98% confidence interval is used and interval of +or-\$75 is desired, how many cardholders must be sampled?

a) 3382

b) 62

c) 629

d) 87

Q4) Jolly Blue Giant Health Insurance is concerned about rising lab test costs and would like to know what proportion of lab test for prostate cancer are actually proven right through subsequent biopsy. JBHI demands sample large sufficient to make sure error of +or-2% with 90% confidence. Determine the essential sample size?

a) 2,401

b) 1,692

c) 1,604

d) 609

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