Estimate confidence average cost of a visit for patients

Reference no: EM13130933

Suppose that at a certain medical clinic the average cost of a doctors visit for a random sample of 55 of its patients is found to be at $116.74. if it is known that the standard deviation for the costs of all doctors visits is $35.15, estimate with 95% confidence the average cost of a doctors visit for all the patients of this medical clinic.

Reference no: EM13130933

Questions Cloud

Mathematics-functions and graphs : Use the graph in part (a) to determine the level of production x at which consumer expenditure is largest. What price p correspnds to maximum consumer expenditure?

Confidence intervals should include true population mean : Does the 99% confidence interval contain the actual population mean? If not, explain why not. What proportion of many similarly constructed confidence intervals should include the true population mean value?

Evaluate the general procedure of accounting for bankruptcie : Evaluate the general procedure of accounting for bankruptcies and create at least one recommendation for improving existing practices. Providing examples of just how your recommendation would be an improvement can be helpful.

Compute the annual approximate interest cost : Trade Credit Discount. Compute the annual approximate interest cost of not taking a discount using the following scenarios. What conclusion can be drawn from the calculations?

Estimate confidence average cost of a visit for patients : The standard deviation for the costs of all doctors visits is $35.15, estimate with 95% confidence the average cost of a doctors visit for all the patients of this medical clinic.

Preparing the appropriate journal entries : On December 1, 2010, the company declared a cash dividend of $2 per share which will be paid in cash on January 15, 2011. The annual accounting period ends December 31. Prepare the appropriate journal entries on each date.

Synthesis of nylon- relative reactivities of acid chloride : Synthesis of Nylon: Relative Reactivities of Acid Chloride, Acid Chlorides are known to be reactive towards water, however successful polymer preparation can be made with 5% aqueous

What is the target cost per clock : The product design team at New Time Products is in the process of designing a new clock using target costing. Product features in comparison to competing prodcuts suggest a price of $30 per unit. The company requires a profit of 30 percent of sel..

Explain how do webusiness people and as a society : After all, we live in a society where the norm is to 'have someone's back' and to not 'rat out someone'. Explain how do we, as businesspeople and as a society, overcome the loss of trust many feel toward whistle-blowers?

User Account

All Pages