Confidence interval estimation, Advanced Statistics

Assignment Help:

An auditor for a government agency needs to evaluate payments for doctors' office visits paid by Medicare in a small regional town during the month of June. A total of 25,056 visits occurred during June in this small regional town. The auditor wants to estimate the total amount paid by Medicare to within ± $5 with 95% confidence. On the basis of past experience, she believes that the standard  deviation is approximately $30.

(a) What sample size should she select?

Using the sample size selected in (a), an audit was conducted and it was found that the sample mean amount of reimbursement was $93.70 and the sample standard deviation was $34.55. In 12 of the office visits, an incorrect amount of reimbursement was provided. For the 12 office visits in which there was an incorrect reimbursement, the differences between the amount reimbursed and the amount that the auditor determined should have been reimbursed were as follows

$17 $25 $14 -$10 $20 $40 $35 $30 $28 $22 $15 $5

(b) Construct a 90% confidence interval estimate of the population proportion of reimbursements that contain errors.

(c) Construct a 95% confidence interval estimate of the population mean reimbursement per office visit.

(d) Construct a 95% confidence interval estimate of the population total amount of reimbursements for this small regional town.

(e) Construct a 95% confidence interval estimate of the total difference between the amount reimbursed and the amount that the auditor determined should have been reimbursed.


Related Discussions:- Confidence interval estimation

Event studies, can you help specify the model for an event study and to int...

can you help specify the model for an event study and to interpret the results/

Graph theory, Why Graph theory? It is the branch of mathematics concerned w...

Why Graph theory? It is the branch of mathematics concerned with the properties of sets of points (vertices or nodes) some of which are connected by the lines known as the edges. A

Time series, relevancy of time series in business management

relevancy of time series in business management

Codominance, Codominance : The relationship between genotype at the locus a...

Codominance : The relationship between genotype at the locus and a phenotype to which it in?uences. If an individuals with heterozygote (such as, AB) genotype is phenotypically dif

Cellular proliferation models, Cellular proliferation models : Models are u...

Cellular proliferation models : Models are used to describe the growth of the  cell populations. One of the example is the deterministic model   where N(t) is the number of cel

Normality - reasons for screening data, Normality - Reasons for Screening...

Normality - Reasons for Screening Data Prior to analyzing multivariate normality, one should consider univariate normality Histogram, Normal Q-Qplot (values on x axis

Chi-squared distribution, Chi-squared distribution : It is the probability ...

Chi-squared distribution : It is the probability distribution, f (x), of the random variable de?ned as the sum of squares of the number (v) of independent standard normal variables

Expectaton, sales per day for a product are as follows: x= 10, 11, 12, 13 (...

sales per day for a product are as follows: x= 10, 11, 12, 13 (p)= 0.2, 0.4, 0.3, 0.1 obtain mean and variance of daily sale. if the profit is described by the following equation p

Accelerated life testing, Normal 0 false false false EN...

Normal 0 false false false EN-US X-NONE X-NONE

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd