Medical bill = $8,440
Deductible = $400
Coinsurance plan = Medical policy 80% of all expenses above $400
Amount to pay = 400+ (8440-400)*20/100 = 400+1608 = $2,008
Answer:
A. The larger the sample size the better.
Step-by-step explanation:
Central Limit Theorem
The Central Limit Theorem establishes that, for a normally distributed random variable X, with mean and standard deviation , the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean and standard deviation .
For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.
For a proportion p in a sample of size n, the sampling distribution of the sample proportion will be approximately normal with mean and standard deviation
In this question:
We have to look at the standard error, which is:
This means that an increase in the sample size reduces the standard error, and thus, the larger the sample size the better, and the correct answer is given by option a.
The exact answer would be 167.09 so if you round the closest answer is D. $170
If you divide 67 by 50 you are left with 1.34 if you turn that decimal into a percent it turns into 134%