(Step-by-Step) Health Care Expenses. The mean annual expenditure per 25- to 34-year-old consumer for health care is $1468. This includes health insurance, medical
Question: Health Care Expenses. The mean annual expenditure per 25- to 34-year-old consumer for health care is $1468. This includes health insurance, medical services, and drugs and medical supplies. Student at a large university took a survey, and it was found that for a sample of 60 students, the mean health care expense was $1520, and the population standard deviation is $198. Is there sufficient evidence at a=0.01 to conclude that their health care expenditure differs from the national average of $1468? Is the conclusion different at a=0.05?
Deliverable: Word Document 