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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 $2000.
a. Show the sampling distribution of the mean amount of Medicare spending for a sample of fifty 2003 enrollees.
b. What is the probability the sample mean will be within $300 of the population mean?
c. What is 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?
A rare disease has just broken out. Doctor Johnson is trying to help, but while treating patients he might expose himself to the disease.
The article can be on Descriptive Statistics, Probability and the Normal Distribution, Sampling and Sampling Distributions, Regression Analysis, or Time Series Forecasting.
The speeds of all vehicles have a bell-shaped distribution with a mean of 72 mph and a standard deviation of 3 mph. Using the empirical rule, find the percentage of vehicles with the following speeds on this section of I-95.
Show that someone will think that the claim has more than a fifty percent chance of being true if p > q / (1 + q). Explain.
A meteorologist wishes to estimate the mean amount of snowfall per year in Spokane, Washington. A random sample of the recorded snowfalls for 20 years from a 140 year period produces a sample mean equal to 54.03 inches, with a standard deviation of 9..
Births with gestation time of 258 days or less are regarded to be premature births. Determine the probability that randomly selected pregnant woman will give birth to premature baby?
Provide an example of how an ANOVA could expand on the results of a t-test. In other words, think of an example (related to the field of psychology) in which you could use a t-test, and then note how the comparison could change if an ANOVA was use..
The overall average for the samples is 17 ounces. The range is only 0.5 ounce. Determine the upper and lower control-chart limits for averages for the boxes of cereal.
a) Find the 95% confidence interval for the population mean based on the 37 patients who remain after you drop the outlier. b) Compare your interval in (a) with your interval from Exercise 18.32. What is the most important effect of removing the ou..
Using the following information for McDonovan, Inc.'s stock, calculate their expected return and standard deviation.
A particular candidate claims she has the support of at least 60% of the voters in her district. A random sample of 150 voters yields 87 who support her. The candidate wishes to test her claim at the 0.05 level of significance.
A random sample of eight adults aged 30 years were asked how much they spent on medical costs in the year 2011. The following data were measured.
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