The American Veterinary Association claims that the annual cost of medical care for dogs averages $110 with a standard deviation of $35. The cost for cats averages $125 with a standard deviation of $42. Some basic algebraic and statistical steps shows us that the average of the difference in the cost of medical care for dogs and cats is then $110-$125 = -$15. The standard deviation of that same difference equals $53. If the difference in costs follows a normal distribution, what is the probability that the cost for someone's dog is higher than for the cat?
A) 0.2830, B) 0.6103, C) 0.3897, D) 0.7170
The American Veterinary Association claims that the annual cost of medical care for dogs averages $110...
The American Medical Association wishes to have information on the mean cost of Coronovirus test kits. A random sample of 500 kits reveals a sample mean of $86,450. The standard deviation of this population is $5,050. The AMA would like answers to the following questions: What is a reasonable range of values for the population mean? Assume the association decides to use the 95 percent level of confidence(z=1.96).