Human Resource Consulting (HRC) surveyed a random sample of 78 Twin Cities construction companies to find information on the costs of their health care plans. One of the items being tracked is the annual deductible that employees must pay. The Minnesota Department of Labor reports that historically the mean deductible amount per employee is $504 with a standard deviation of $110. (Round z value to 2 decimal places and final answers to 4 decimal places. Leave no cells blank – be certain to enter ‘0’ if required.)a.Compute the standard error of the sample mean for HRC. Standard errorb.What is the chance HRC finds a sample mean between $477 and $527? Probabilityc.Calculate the likelihood that the sample mean is between $492 and $512. Probabilityd.What is the probability the sample mean is greater than $550? Probability
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