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According to a survey by Kaiser Family Foundation, employers paid an average of $7954 per employee in annual premiums to provide family health care for their employees, and each worker paid an average of $2080 toward these premiums(USA TODAY, September 6, 2002). Assume that the current annual premiums paid by all workers for family health coverage are normally distributed with a mean of $2080 and a standard deviation of $300.
a. What is the probability that a worker pays lees than $1730 per year for the family health coverage premium?
b. What percentage of the workers is paying between $1800 and $2400 per year toward the family health coverage premium?
c. What is the probability that a worker pays more than $2500 towards the family health coverage premium?
d. What percentage of the workers paid less than $2080 for their family health coverage premium?
e. What percentage of the workers paid more than $2080 for their family health coverage premium?
In an effort to estimate the mean amount spent per customer for dinner at a major Atlanta restaurant, data were collected for a sample of 49 customers. At 95% confidence, what is the margin of error (to 1 decimal)?
Why then does it matter whether we assume straight-line or MACRS depreciation when we assess project NPV?
Call centers typically have high turnover. The director of human resources for a large bank has compiled data on about 70 former employees at one of the bank's call centers in the Excel file Call Center Data.
Assume that female students' heights are normally distributed with a mean given by µ = 67.2 in. and a standard deviation given by σ = 3.6 in.
Given that the mean of all 102 atomic numbers is 51.794, and the population standard deviation is 29.804, what is the probability that the mean of the 40 atomic numbers selected by the student will be at least 57.3?
They both want to know what family member typically does the research about possible honeymoon destinations, and who primarily makes the decision on selecting the destination.
Utilizing form of Regression method which would give you highest performing model to forecast Sales. Utilizing your model forecast the sales
What is the population? What values does the population distribution describe? What is this distribution? What values does the sampling distribution of x describe? What is the sampling distribution?
Nationwide, the average time until a electric utility customer service representative answers a call is 260 second. The Gigantic Kilowatt Energy Company randomly sampled 30 calls and found that, on average, they were answered in 227 second with a ..
Yielding a sample mean of 190.7 days and a sample standard deviation of 54.2 days. Estimate the true mean population of the growing season with 95% confidence.
Bivariate data for the quantitative variables x and y are given in the attached. These data are plotted in a scatter plot. Sketch an approximation of at the least-squares regression line for the data.
Critically illustrate out the term standard deviation. Define mathematical averages. Why is the standard deviation less than the mathematical average?
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