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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 expenditures. Assume the population standard deviation for 2003 was $2,000. Calculate the standard error of the mean amount of Medicare spending for a sample of fifty 2003 enrollees (to 2 decimals). What is the probability the sample mean will be within +/- $300 of the population mean (to 4 decimals)? What is the probability the sample mean will be greater than $7500 (to 4 decimals)?
you want to give a bonus to the top 5 of your sales people and extra special attention to the bottom 25. average sales
Machine which fills quart milk cartons is set up to average 32.2 oz per carton, with standard deviation of 1.2 oz. Determine probability that filled carton will contain less than 32 oz of milk?
can we conclude that the mean assembly time for this component exceeds 3 minutes? What error could be made in this case? Describe it in words.
Assume each shot is independent of the others. If she shoots 6 arrows, what's the probability of each result described below. Her first bull's-eye comes on the third arrow.
a medical study recorded the following information on 75 randomly chosen subjects. in the space provided describe the
He argues that the regression effect says people who perform very poorly in their previous job tend to perform well in their next job. Is this what the regression effect says? Explain.
several population studies have demonstrated an inverse correlation of the rate of sudden infant death syndrome sids
find the number of chocolate chips a cookie should contain on the average if it is desired that the probability of a
In addition, record the values for the UCL, center line, and LCL. Also, record any points that are out of control. Use a z-value of three.
If 25 men aged 18-24 are arbitrarily chosen, determine probability that their mean serum cholesterol level is between 165 and 200.
A recent report in BusinessWeek indicated that 20 percent of all employees steal from their company each year. fewer than 5 employees steal?
What are the minimum and the maximum starting salaries of the middle 95% of the LU graduates?
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