Cost of a Treatment Assignment | Assignment Help Services
The cost of a treatment per patient for a certain medical problem was modeled by one insurance company as a Normal distribution with mean $125 and standard deviation of $6.50.(a) What is the 70th percentile of the distribution of costs?
(b) What is the probability that at least 2 out of 5 randomly selected people in the study will pay more than the amount found in part (a)?(c) What is the probability that a randomly selected sample of 5 patients will have a mean cost of at least $130?