Confidence interval estimation, Advanced Statistics

An auditor for a government agency needs to evaluate payments for doctors' office visits paid by Medicare in a small regional town during the month of June. A total of 25,056 visits occurred during June in this small regional town. The auditor wants to estimate the total amount paid by Medicare to within ± $5 with 95% confidence. On the basis of past experience, she believes that the standard  deviation is approximately $30.

(a) What sample size should she select?

Using the sample size selected in (a), an audit was conducted and it was found that the sample mean amount of reimbursement was $93.70 and the sample standard deviation was $34.55. In 12 of the office visits, an incorrect amount of reimbursement was provided. For the 12 office visits in which there was an incorrect reimbursement, the differences between the amount reimbursed and the amount that the auditor determined should have been reimbursed were as follows

$17 $25 $14 -$10 $20 $40 $35 $30 $28 $22 $15 $5

(b) Construct a 90% confidence interval estimate of the population proportion of reimbursements that contain errors.

(c) Construct a 95% confidence interval estimate of the population mean reimbursement per office visit.

(d) Construct a 95% confidence interval estimate of the population total amount of reimbursements for this small regional town.

(e) Construct a 95% confidence interval estimate of the total difference between the amount reimbursed and the amount that the auditor determined should have been reimbursed.

Posted Date: 2/25/2013 4:44:28 AM | Location : United States







Related Discussions:- Confidence interval estimation, Assignment Help, Ask Question on Confidence interval estimation, Get Answer, Expert's Help, Confidence interval estimation Discussions

Write discussion on Confidence interval estimation
Your posts are moderated
Related Questions
The method of displaying the geographical variability of the disease on maps using different colors, shading, etc. The logic is not new, but the arrival of computers and computer g

Probability judgements : Human beings often require assessing the probability which some event will occur and accuracy of these probability judgements often determines success of o

Markers of disease progression : Quantities which form a general monotonic series throughout the course of the disease and assist with its modelling. In uasual such quantities are

Procedures for estimating the probability distributions without supposing any particular functional form. Constructing the histogram is perhaps the easiest example of such type of

A construction for events that happen in some planar area a, consisting of the series of 'territories' each of which comprises of that part of a closer to the particular event xi t

Designs in which the information on main effects and low-order inter- actions are attained by running only the fraction of the complete factorial experiment and supposing that part

Influence statistics: The range of statistics designed to assess the effect or the in?uence of an observation in determining results of the regression analysis. The general approa

This term applied in the context of comparing the different methods and techniques of estimating the same parameter; the estimate with the lowest variance being regarded as the mos

Surveys which use lists related with the vital statistics to sample individuals for the further information. For instance, the 1988 National Mortality Follow back Survey sampled de

How has quantitative analysis changed the current scenario in the management world today?