Reference no: EM1395205
Annual family dental expenses for the families of a random sample of ten employees of a company are given below. You can assume the family dental expenses for the employees of the company are normally distributed.
$450, $390, $550, $140, $690, $600, $250, $330, $490, $810
a) Compute the mean and standard deviation of the sample.
b) Determine the point estimate and 95% confidence interval for the mean family dental expenses of all employees of the company.
c) Interpret the confidence interval.
d) How would you communicate this information to the Vice-President of Human Resources in non-statistical language.
e) How could this information be used in negotiations with the dental insurer of the company in setting the premiums for the next year.
|
Probability that al five cards are hearts
: A deck of cards contains 52 cards, 13 in each of four suits (hearts, diamonds, clubs and spades). Suppose you have been dealt five cards without replacement from a randomly shuffled deck of cards. Find the probability that al five cards are hearts..
|
|
Provide possible reason for males and females different trc
: Using your knowledge of development, genetics, and biology, explain a possible reason why males and females have a different TRC.
|
|
Straight-line-macrs depreciation
: Why then does it matter whether we assume straight-line or MACRS depreciation when we assess project NPV?
|
|
Impact price elasticity of the product
: Determine whether your commodity is a necessity or a luxury product. Identify the availability of substitutes for the chosen product and explain how the necessity of a good and the availability of substitutes impact the price elasticity of the prod..
|
|
Dental expenses of all employees of the company
: Determine the point estimate and 95% confidence interval for the mean family dental expenses of all employees of the company.
|
|
Check grammar of essay on stress
: Stress is the person's body response to a stressor such as an environmental condition or a stimulus. Stress is a caused due to challenges which the body faces
|
|
Determining the ability of family member to taste ptc
: You repeat Snyder's experiment, but instead of determining the ability of each family member to taste PTC, you determine what alleles they carry: 2 PAV (PAV/PAV), 2 AVI (AVI/AVI),
|
|
Maximum likelihood estimation-hypothesis testing of mean
: You work in the corporate office for a nationwide convenience store franchise that operates nearly 10,000 stores. The per-store daily customer count has been steady,
|
|
Association between mortality from cirrhosis
: Perform a significance test to assess whether there is an association between mortality from cirrhosis of the liver and duration of employment in the group hired after 1945. Report a p- value.
|