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    Probability : Confidence Interval

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    After reviewing 100 drug stores across nation, you discover that a certain prescription drug has an average price of $40 for $20 pills with a standard deviation of $5. Using this information, deduce with 95% accuracy where the national average cost of 20 pills lies.

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    Solution Preview

    average = 40
    n = 100
    deviation = 5
    alpha = 0.05
    z(alpha/2) = ...

    Solution Summary

    A confidence interval is investigated. The response received a rating of "5" from the student who originally posted the question.