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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?
Categorize the events as dependent or independent. Events A and B where P (A) = 0.7, P (B) = 0.8, and P (A and B) = 0.56.
Determine a 95 % confidence interval for the iron concentration.
There were 3 defectives in the first batch and 5 in the second. Find a 95% confidence interval for the difference in the proportion of defectives.
Suppose the random variable x is best described by a normal distribution with µ = 24 and σ = 2.7. Find the z-score that corresponds to each of the following x values.
Dividend is expected to grow 7% a year for next 3 years and then at 5% a year after that. Determine the expected dividend per share for each of the next five years?
For value 10,40,20,50 and 40, value of arithmetic mean is? Simplest measure of dispersion is the Standard deviation, variance, Quartile deviation.
Utilizing a binominal experiment, that is each trail can be reduced to two outcomes, construct a binomial distribution.
Test the hypothesis that there is no difference in the mean scores of Exam 1 and Exam 2 against the alternative that the average is greater for the second exam.
Iindicate all samples are approximately Normal with no outliers. Is the ANOVA appropriate?
Find the area under the normal distribution curve between z = 1.52 and z = 2.43.
Drug sniffing dogs must be 95% accurate. A new dog is being tested and is right in 46 of 50 trials. Find a 95% confidence interval for the proportion of times the dog will be correct.
Determine for each variable if it is the explanatory variable, the response variable, or whether it could be both.
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