User Account

All Pages

Determine the probability the sample mean greater than $7500

Assignment Help Basic Statistics
Reference no: EM13957211

Americans have become increasingly concerned about the rising cost of Medicare. In 1990, the average annual Medicare spending per enrollee was $3267; in 2003, the average annual Medicare spending per enrollee was $6883 (Money, Fall 2003). Suppose you hired a consulting firm to take a sample of fifty 2003 Medicare enrollees to further investigate the nature of expenditure. Assume the population standard deviation for 2003 was $2000.

a. Show the sampling distribution of the mean amount of Medicare spending for a sample of fifty 2003 enrollees.

b. Determine the probability the sample mean will be within ±$300 of the population mean.

c. Determine the probability the sample mean will be greater than $7500. If the consulting firm tells you the sample mean for the Medicare enrollees they interviewed was $7500, would you question whether they followed correct simple random sampling procedures? Why or why not?

Reference no: EM13957211

Questions Cloud

How many people expect to say the country was in recession. : Determine the probability that no more than five people believed the country was in a recession.
What is not captured in income that is captured in eva : How many cars must be cut from inventory to achieve zero EVA in 2012? What is not captured in income that is captured in EVA?
Calculate the wave steepness in deep water : Ice particles and super cooled water droplets exist in the same cloud at a temperature if T = 260 K. The water vapor pressure in the cloud is P h2o = 2.50mb. I have to develop an argument that shows the liquid droplets will tend to evaporate and t..
Equation of the plane tangent to the surface : Write an equation of the plane tangent to the surface S given by x = u^2 + v, y = u + v^2, z = uv, ((u,v)?R^2) at the point P with u = 2, v = 1.
Determine the probability the sample mean greater than $7500 : Show the sampling distribution of the mean amount of Medicare spending for a sample of fifty 2003 enrollees.
Financial ratios and time value of money concepts : Application Report 1: Prepare a 2-3 page report, double spaced using proper APA writing style, that compares the finances of Ford Motor Company (stock symbol: F) to the finances of General Motors (stock symbol: GM). Why has Ford been so successfu..
Separation of variables : By usingu(x, t) = X(x)T(t) or u(x,y, t) = X(x)Y(y)T(t), separate the following PDEs into two or three ODEs for X and T or X, Y, and T. The parameters c and k are constants. You do not need to solve the equations.
How will savings in the second year : Analyze the one-year financial impact of outsourcing grounds maintenance. Discuss qualitative factors that should be considered in the decision.
How does organization foster trust and open communication : How does your organization foster trust and open communication - how is teamwork, power, and authority defined? Look deep at self interest vs. a common goal and empowerment.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Identify the space of results of an observation of 2

question in a phone central we observe every minute if certain phone line is or is not occupied. in this way it has

  Calculate the expectation values and the variances for the

calculate the expectation values and the variances for the for the random variable y2x 5 for each of the different rvs

  Standard deviation using deviation to drive from home

A student has determined it takes an average of 16 minutes to drive from home, park the car, and get to class with a deviation of 4 so if it took the student 25 minutes what will the standard deviation be?

  Simple linear regression and multiple regression model

Identify the independent and dependent variables. Perform a regression analysis on the data.

  What is the sampling distribution of the sample mean for a

what is the sampling distribution of the sample mean for a normally distributed random variable.if a variable iq is

  Modelling as a binomial distribution

At least half the patients are under 15 years old? First, explain how this can be modeled as a binomial distribution with 8 trials, where success is visitor age is under 15 years old and the probability of success is 20%.

  Confidence interval for the population average

Find a 90% confidence interval for the population average μ of the percentage of hospitals providing at least some charity care. (Round your answers to one decimal place.)

  Forecast and the actual sales value

1.The Vintage Restaurant, on Captiva Island near Fort Myers, Florida, is owned and operated by Karen Payne.

  Hypothesis testing-quarterly customer surveys

Quarterly customer surveys are taken at a medical center. Each individual department has scores and is comparted to the medical center average. Department of Physical Therapy had scores of 9.14, 9.19 and 7.75 for quarters 1-3 respectively.

  Determining chi square hypothesis testing

Level of education attained by the women from a rural region is divided into three categories: can read/write degree; primary degree; secondary and above degree

  Calculate a 95 confidence interval for the population mean

suppose that a random sample of 100 public owner controlled companies in new zealand is found to give a mean audit

  Compute accounts for variation

Can you think of other cases where the expected probabilities do not quite agree with the empirical values based on relative frequency?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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