Answered: A healthcare information company is…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.2: Representing Data

Problem 22PFA

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Question

A healthcare information company is interested in estimating the average charge for a standard patient visit to a chiropractor in Maryland, after applying the discount negotiated with a large HMO plan. Data is collected from 16 randomly selected chiropractic practices in Maryland, and the following are some summary statistics:

- Mean charge: 25.50 USD

- SD of charges: 2.10 USD

Assuming the charge data is normally distributed for all chiropractic practices in Maryland, estimate a 95% confidence interval for the mean amount charged by Maryland chiropractors (t (15, 0.05) = 2.13):

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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