Perform the hypothesis test and state your conclusions

Assignment Help Accounting Basics
Reference no: EM131774393

Question - Late payment of medical claims can add to the cost of health care. The auditing firm of Dewey, Cheatham, and Howe has discovered that for one insurance company, 85.1% of the claims were paid in full when first submitted based on a sample of 200 claims. Suppose that the insurance company developed a new payment system in an effort to increase this percentage. A sample of 200 claims processed under this new system revealed that 180 of the claims were paid in full when first submitted. At the 5% level of significance, is there evidence that the population proportion of claims paid in full under this new system is higher than the proportion of claims paid in full under the old system?

State the null hypothesis

State the alternative hypothesis.

Perform the hypothesis test and state your conclusions and evidence.

Reference no: EM131774393

Questions Cloud

Determining the equation of exchange : Which of the following predictions can be made using the growth rates associated with the equation of exchange, given that velocity is stable.
Discuss how organizational structure affects effectiveness : Discuss how organizational structure affects effectiveness, efficiency and productivity of an organization.
Discuss involuntary conversion and eligible gain deferral : determine whether the sale of the land will be considered part of the involuntary conversion and eligible for gain deferral
Company cash budget for october in good form : Prepare the company's cash budget for October in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash.
Perform the hypothesis test and state your conclusions : Late payment of medical claims can add to the cost of health care. Perform the hypothesis test and state your conclusions and evidence
How many days are between orders in the basic eoq model : If annual demand equals 1000 units, the number of working days per year is 250, Co = $300 per order and Cc = $3 per unit.
Dysfunctional outcomes of organizational conflicts : Discuss the functional outcomes and dysfunctional outcomes of organizational conflicts.
Consideration to figure out the contribution margin : What is taken into consideration to figure out the contribution margin? How is the break-even point determined? What is needed to determine the operating income
Define organizational behavior and self-motivation : Define “Organizational Behavior” and state the five major disciplinary areas that contribute to Organizational Behavior. Discuss the term “Self-Motivation”.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Best defense for auditors against breach of contract lawsuit

Breach of Contract. Although large-dollar lawsuits brought by shareholders grab the headlines, auditors are most often sued by the client.

  Compute bmxs amounts for each of these four taxes as

who do you figure this set up in columns by different taxes?bmx company has one employee. fica social security taxes

  Lomax enterprises should recognize depreciation expense i

Lomax Enterprises purchased a depreciable asset for $27,500 on March 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $3,100,

  Describe how johnsons testing in phases i-iii of the audit

elizabeth johnson cpa has completed the audit of notes payable and other liabilities for valley river electrical

  Problem regarding the certainty equivalents

The certainty equivalent concept can be widely employed in the analysis of personal and business decision making. Indicate whether each of the following statements is true or false and explain why:

  What you understand by the accounting term loan notes

Explain what you understand by the accounting term 'loan notes' and indicate the circumstances under which a loan note issue would or would not be an appropriate form of financing.

  Determining the balance depreciation rate

The new machine will cost $500,000 and can be depreciated straight line over 10years for tax purposes. Accounting depreciation is 15% reducing balance. Mr PODS has recommended that the 15% reducing balance depreciation rate beused for any analysis..

  What volume of sales must be earned if kiltop wants to earn

kiltop company produces a toy dart gun. the projected income statement for the coming year follows

  What are the issues with movie town operation

The Movie town Movie Theater Company operates movie theaters in 15 different towns throughout the Midwest, including Harborview, a small city of 250,000 people.

  Dynamic leaders inc reported the following results for the

dynamic leaders inc. reported the following results for the yearending july 31 2008. retained earnings august

  Jorgansen lighting inc manufactures heavy-duty street

jorgansen lighting inc. manufactures heavy-duty street lighting systems for municipalities. the company uses variable

  What is evans basis in the grand stock and notes

What are the amounts and character of Evan's recognized gains and losses? What is Evans basis in the grand stock and notes

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