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An auditor reviewed 25 oral surgery insurance claims from a particular surgical office, determining that the mean out-of-pocket patient billing above the reimbursed amount was $275.66 with a standard deviation of $78.11.
(a) At the 5 percent level of significance, does this sample prove a violation of the guideline that the average patient should pay no more than $250 out-of-pocket?
State your hypotheses and decision rule.
(b) Is this a close decision?
A sample has just been taken with the following lengths: 21.25, 22.0, 21.5, 20.75, 21.25, 21.35, 21.35, 21.35, 21.35, 21.35, 21.35, and 21.35. Is the new seamstress performing at an acceptable quality level?
Illustrate what does weighting add to usefulness of moving averages and explain how is it done. The yield on a thirty year treasury note at the end of every year since 1990 is recorded below.
Find the critical value Zc necessary to form a confidence interval at the given level of confidence.
We can think of this as the value of mew that maximizes f(y), the probability that our observed value of y occurs.
Identify this F ratio. What does the F ratio tell you about the fit of the regression equation to the sample points? What does it suggest?
A large population of metal rods have an average diameter of .943 inches with a standard deviation of .001 inches. The engineering specification for the rods requires that they be between .941 and .944 inches.
What is the likelihood the sample mean is greater than $22.50 but less than $25.00?
At the .05 significance level, is the number of units produced on the afternoon shift larger?
Interpret the estimated tolerance intervals and the confidence interval in the context of the situation related to the exercise.
The data is based on 214 children with acute otitis media who participated in a randomized clinical trail each child had OME at the beginning of the study in either one or both ears and was randomly assigned to receive a 14 day course of one of tw..
During recent seasons, Major League Baseball has been criticized for the length of the games. A report indicated that the average game lasts 3 hours and 30 minutes.
Test the claim of the brewery about the mean volume equal to 32 oz. at the 0.05 significance level. It's your choice whether to use z or t.
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