Determining essential sample size for health insurance

Assignment Help Basic Statistics
Reference no: EM1323139

Q1) Owner of Limp Pines Resort desired to know average age of its clients. Random sample of 25 tourists is taken. It illustrates a mean age of 46 yrs. with stand. dev. Of 5 yrs. Width of a 98% Cl for true mean cliet age is approximately..............yrs.

a) +or-2.06     b) +or-2.33      c) +or-2.49       d) +or-2.79

Q2) What sample size would be needed to evaluate true proportion of American female business executives who prefer title "Ms.", with an error of ±0.025 and 98 percent confidence

Q3) Financial institution desires to evaluate mean because balances owed by its credit card customers. Population standard deviation is evaluated to be $300. If 98% confidence interval is used and interval of +or-$75 is desired, how many cardholders must be sampled?

a) 3382 

b) 62  

c) 629   

d) 87

Q4) Jolly Blue Giant Health Insurance is concerned about rising lab test costs and would like to know what proportion of lab test for prostate cancer are actually proven right through subsequent biopsy. JBHI demands sample large sufficient to make sure error of +or-2% with 90% confidence. Determine the essential sample size?

a) 2,401  

b) 1,692  

c) 1,604 

d) 609

Reference no: EM1323139

Find expressions in terms of q and n for npx

Suppose that qx is equal to a constant q for all x. Find expressions in terms of q and n for (a) npx, (b) ex. Do you think that this gives a realistic life table? Why or why

An n-dimensional random vector with expected value

Let X1,..., Xn be iid random variables with expected value 0, variance 1, and covariance Cov[Xi, Xj] = ρ. Use Theorem 5.13 to find the expected value and variance of the sum Y

Confidence interval estimate for mean value

Assuming a normal distribution construct a 95% confidence interval estimate for the mean value of all greeting cards in the store's inventory. Suppose there are 2,500 greeti

Determine expected value of game

Someone gives you 10 to 1 odds that you cannot roll a double number with the roll of a pair of dice. You win $10 if you succeed and you lose $1 if you fail. What is the expe

Analyze if income inequality is increasing

The resources use data and statistics to support answers to the same question, but they reach opposite conclusions! The textbook authors use the Gini Index to argue that inc

Standard deviation of number of useable parts in package

If the manufacturer sells the parts in packages of 10 parts, what are the mean and standard deviation of the number of useable parts in a package?

Explain the trend in the export of fish

Draw two pie charts, which allow the total yearly exports to be compared. Explain the trend in the export of fish as shown in the two pie charts.

How many expected to weigh hundred pounds

Weights are distributed normal with a mean of 132 pounds and a standard deviation of 27.4 pounds. In a random sample of 150, how many of them would be expected to weigh betw

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd