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b. The United Medical Agency is investigating the cost of maintaining the diabetic patients within its plan. These patients have typically been running up costs at the rate of $1,240 per month. A sample of 8 cases were observed and the costs are given below: Patient A B с D E F G H Costs 1260 1172 1181 1101 1103 1360 1281 1115 i. Calculate a 95% confidence interval for the mean cost. 11. 111. Comment on the hypothesis that the mean cost is greater than $1,240. Use the 5% level of significance. Include all steps. Comment on the hypothesis that the mean cost is equal to $1,240. Use the 10% level of significance. Include all steps.

b. The United Medical Agency is investigating the cost of maintaining the diabetic patients within its plan. These patients have typically been running up costs at the rate of $1,240 per month. A sample of 8 cases were observed and the costs are given below: Patient A B с D E F G H Costs 1260 1172 1181 1101 1103 1360 1281 1115 i. Calculate a 95% confidence interval for the mean cost. 11. 111. Comment on the hypothesis that the mean cost is greater than $1,240. Use the 5% level of significance. Include all steps. Comment on the hypothesis that the mean cost is equal to $1,240. Use the 10% level of significance. Include all steps.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 24PFA
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b. The United Medical Agency is investigating the cost of maintaining the diabetic patients within its plan. These patients have typically been running up costs at the rate of $1,240 per month. A sample of 8 cases were observed and the costs are given below: Patient A B с D E F G H Costs 1260 1172 1181 1101 1103 1360 1281 1115 i. Calculate a 95% confidence interval for the mean cost. 11. 111. Comment on the hypothesis that the mean cost is greater than $1,240. Use the 5% level of significance. Include all steps. Comment on the hypothesis that the mean cost is equal to $1,240. Use the 10% level of significance. Include all steps.
Transcribed Image Text:b. The United Medical Agency is investigating the cost of maintaining the diabetic patients within its plan. These patients have typically been running up costs at the rate of $1,240 per month. A sample of 8 cases were observed and the costs are given below: Patient A B с D E F G H Costs 1260 1172 1181 1101 1103 1360 1281 1115 i. Calculate a 95% confidence interval for the mean cost. 11. 111. Comment on the hypothesis that the mean cost is greater than $1,240. Use the 5% level of significance. Include all steps. Comment on the hypothesis that the mean cost is equal to $1,240. Use the 10% level of significance. Include all steps.
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