Fundamentals of Statistics (5th Edition)
5th Edition
ISBN: 9780134508306
Author: Michael Sullivan III
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Concept explainers
Textbook Question
Chapter 2.3, Problem 11AYU
Health Care Expenditures The following data represent health care expenditures per capita (per person) and as a percentage of the U.S. gross domestic product (GDP) from 2003 to 2012. Gross domestic product is the total value of all goods and services created during the course of the year.
Health Care | ||
Year | per Capita | as a percent of GDP |
2003 | 11,512 | 15.4 |
2004 | 12,277 | 15.5 |
2005 | 13,095 | 15.5 |
2006 | 13,858 | 15.6 |
2007 | 14,480 | 15.9 |
2008 | 14,720 | 16.4 |
2009 | 14,418 | 17.4 |
2010 | 14,958 | 17.4 |
2011 | 15,534 | 17.3 |
2012 | 16,245 | 17.2 |
Source: Center for Medicare and Medicaid Services, Office of the Actuary |
- a. Construct a time-series plot that a politician would create to support the position that health care expenditures are increasing and must be slowed.
- b. Construct a time-series plot that the health care industry would create to refute the opinion of the politician. Is your graph convincing?
- c. Explain how different measures may be used to support two completely different positions.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Consumer Credit The total amount of consumer credit has
been increasing steadily in recent years. The following table
gives the total U.S. outstanding consumer credit (in billions of
dollars). Source: Federal Reserve.
Consumer
Consumer
Year
Credit
Year
Credit
2004
2219.5
2009
2553.5
2005
2319.8
2010
2648.1
2006
2415.0
2011
2757.0
2007
2551.9
2012
2924.3
2008
2592.1
2013
3099.2
(a) Find an equation for the least squares line, letting x equal
the number of years since 2000.
(b) Based on your answer to part (a), at approximately what
rate is consumer credit growing per year?
(c) Use your result from part (a) to predict the amount of con-
sumer credit in 2015.
3:27
4G 11%
K
The accompanying data represent health care expenditures per capita (per person) as a percentage of the gross
domestic product (GDP) of a country from 2009 to 2015. Gross domestic product is the total value of all goods and
services created during the course of the year. Complete parts (a) through (c) below.
Click the icon to view the data table.
(a) Construct a time-series plot that a politician would create to support the position that health care expenditures are
increasing and must be slowed. Choose the correct graph below.
O A.
25,000-
O A.
Percent
18-
0+
2009
15-
Year
12+
2009
Year
2015
Q
2015
|||
O B.
=
17,000+
10,000+
2009
B.
Year
2015
Q
Year
(b) Construct a time-series plot that the health care industry would create to refute the opinion of the politician.
Choose the correct graph below.
Q
O C.
18+
12+
2009
O
VO) 1
Year
C.
17,000+
17,000+
w r
10,000+
10,000+
2009
2015
2009
2015
2015
Year
OA. Values can be left out of the graph so that the graph supports the…
Market
Weekly Gross Revenue ($100s)
Television Advertising
Newspaper Advertising
Mobile
101.3
5.0
1.5
Shreveport
51.9
3.0
3.0
Jackson
74.8
4.0
1.5
Birmingham
126.2
4.3
4.3
Little Rock
137.8
3.6
4.0
Biloxi
101.4
3.5
2.3
New Orleans
237.8
5.0
8.4
Baton Rouge
219.6
6.9
5.8
Can I get this all done on excel if possible with step by step instruction thank you!
Chapter 2 Solutions
Fundamentals of Statistics (5th Edition)
Ch. 2.1 - Define raw data in your own words.Ch. 2.1 - A frequency distribution lists the _____ of...Ch. 2.1 - In a relative frequency distribution, what should...Ch. 2.1 - What is a bar graph? What is a Pareto chart?Ch. 2.1 - Flu Season The pie chart shown, the type we see in...Ch. 2.1 - Cosmetic Surgery This USA Today type chart shows...Ch. 2.1 - Most Valuable Player The following Pareto chart...Ch. 2.1 - Poverty The U.S. Census Bureau uses money income...Ch. 2.1 - Divorce The following graph represents the results...Ch. 2.1 - Identity Theft Identity fraud occurs when someone...
Ch. 2.1 - Made in America A random sample of 2163 adults...Ch. 2.1 - Desirability Attributes A random sample of 2163...Ch. 2.1 - College Survey In a national survey conducted by...Ch. 2.1 - College Survey In a national survey conducted by...Ch. 2.1 - Use the Internet? The Gallup organization...Ch. 2.1 - Dining Out A sample of 521 adults was asked, How...Ch. 2.1 - NW Texting A survey of U.S. adults and teens (ages...Ch. 2.1 - Educational Attainment The educational attainment...Ch. 2.1 - Dream Job A survey of adult men and women asked,...Ch. 2.1 - Car Color A survey of 100 randomly selected autos...Ch. 2.1 - Prob. 21AYUCh. 2.1 - Bachelor Party In a survey conducted by Opinion...Ch. 2.1 - Favorite Day to Eat Out A survey was conducted by...Ch. 2.1 - Prob. 25AYUCh. 2.1 - Prob. 26AYUCh. 2.1 - Prob. 27AYUCh. 2.1 - StatCrunch Survey Choose a qualitative variable...Ch. 2.1 - Putting It Together: Online Homework Keeping...Ch. 2.1 - When should relative frequencies be used when...Ch. 2.1 - Prob. 31AYUCh. 2.1 - Prob. 32AYUCh. 2.1 - Prob. 33AYUCh. 2.2 - The categories by which data are grouped are...Ch. 2.2 - The _____ class limit is the smallest value within...Ch. 2.2 - The _____ is the difference between consecutive...Ch. 2.2 - Prob. 4AYUCh. 2.2 - Prob. 5AYUCh. 2.2 - Prob. 6AYUCh. 2.2 - True or False: The shape of the distribution shown...Ch. 2.2 - Prob. 8AYUCh. 2.2 - Rolling the Dice An experiment was conducted in...Ch. 2.2 - Car Sales A car salesman records the number of...Ch. 2.2 - IQ Scores The following frequency histogram...Ch. 2.2 - Alcohol-Related Traffic Fatalities The frequency...Ch. 2.2 - In Problems 13 and 14, for each variable...Ch. 2.2 - In Problems 13 and 14, for each variable...Ch. 2.2 - Misery Index The following time-series plot shows...Ch. 2.2 - Prob. 16AYUCh. 2.2 - Predicting School Enrollment To predict future...Ch. 2.2 - Free Throws In an experiment, a researcher asks a...Ch. 2.2 - In Problems 1922, determine the original set of...Ch. 2.2 - In Problems 1922, determine the original set of...Ch. 2.2 - In Problems 1922, determine the original set of...Ch. 2.2 - In Problems 1922, determine the original set of...Ch. 2.2 - find (a) the number of classes, (b) the class...Ch. 2.2 - Earthquakes The following data represent the...Ch. 2.2 - In Problems 25 and 26, construct (a) a relative...Ch. 2.2 - In Problems 25 and 26, construct (a) a relative...Ch. 2.2 - NW Televisions in the Household A researcher with...Ch. 2.2 - Waiting The data below represent the number of...Ch. 2.2 - NW Gini Index The Gini Index is a measure of how...Ch. 2.2 - Average Income The following data represent the...Ch. 2.2 - Cigarette Tex Rates The table shows the tax, in...Ch. 2.2 - Dividend Yield A dividend is a payment from a...Ch. 2.2 - NW Violent Crimes Violent crimes include murder,...Ch. 2.2 - Volume of Altria Group Stock The volume of a stock...Ch. 2.2 - Prob. 35AYUCh. 2.2 - Prob. 36AYUCh. 2.2 - Prob. 37AYUCh. 2.2 - Prob. 38AYUCh. 2.2 - Prob. 39AYUCh. 2.2 - Prob. 40AYUCh. 2.2 - NW Violent Crimes Use the violent crime rate data...Ch. 2.2 - Academy Award Winners The following data represent...Ch. 2.2 - Prob. 43AYUCh. 2.2 - Sullivan Survey Choose a continuous quantitative...Ch. 2.2 - Prob. 46AYUCh. 2.2 - Prob. 47AYUCh. 2.2 - Waiting Draw a dot plot of the waiting data from...Ch. 2.2 - Prob. 49AYUCh. 2.2 - Prob. 50AYUCh. 2.2 - Prob. 51AYUCh. 2.2 - Prob. 52AYUCh. 2.2 - Prob. 53AYUCh. 2.2 - Putting It Together: Which Graphical Summary?...Ch. 2.2 - Prob. 55AYUCh. 2.2 - Prob. 56AYUCh. 2.2 - Discuss the advantages and disadvantages of...Ch. 2.2 - Prob. 58AYUCh. 2.2 - Describe the situations in which it is preferable...Ch. 2.2 - Sketch four histogramsone skewed right, one skewed...Ch. 2.2 - What type of variable is required when drawing...Ch. 2.3 - Inauguration Cost The following is a USA...Ch. 2.3 - Burning Calories The following is a USA Today-type...Ch. 2.3 - NW Median Earnings The graph shows the median...Ch. 2.3 - Union Membership The following relative frequency...Ch. 2.3 - NW Robberies A newspaper article claimed that the...Ch. 2.3 - Car Accidents An article in a student newspaper...Ch. 2.3 - Tax Revenue The following histogram drawn in...Ch. 2.3 - You Explain It! Oil Reserves The U.S. Strategic...Ch. 2.3 - NW Cost of Kids The following is a USA Today-type...Ch. 2.3 - Worker Injury The safety manager at Klutz...Ch. 2.3 - Health Care Expenditures The following data...Ch. 2.3 - Prob. 12AYUCh. 2.3 - NW Overweight Between 1980 and 2012, the number of...Ch. 2.3 - Ideal Family Size The following USA Today-type...Ch. 2.3 - National League Baseball MVP The following pie...Ch. 2.3 - Prob. 16AYUCh. 2 - Effective Commercial Harris Interactive conducted...Ch. 2 - Weapons Used in Homicide The following frequency...Ch. 2 - Live Births The following frequency distribution...Ch. 2 - Political Affiliation One hundred randomly...Ch. 2 - Family Size A random sample of 60 couples married...Ch. 2 - Home Ownership Rates The table shows the home...Ch. 2 - Diameter of a Cookie The following data represent...Ch. 2 - Time Online The following data represent the...Ch. 2 - Grade Inflation The side-by-side bar graph to the...Ch. 2 - Income Distribution The following data represent...Ch. 2 - Misleading Graphs In 2013, the average earnings of...Ch. 2 - High Heels The graphic to the right is a USA Today...Ch. 2 - The graph shows the ratings on Yelp for Hot Dougs...Ch. 2 - A random sample of 1005 adult Americans was asked,...Ch. 2 - Interested in knowing the educational background...Ch. 2 - The following data represent the number of cars...Ch. 2 - Dr. Paul Oswiecmiski randomly selects 40 of his...Ch. 2 - The following data represent the time (in minutes)...Ch. 2 - The data below shows birth rate and per capita...Ch. 2 - The following is a USA Today-type graph. Do you...Ch. 2 - A bar graph or pie chart (or both) that depicts...Ch. 2 - A histogram that displays the distribution of...Ch. 2 - Six histograms displaying tornado duration for...Ch. 2 - A bar chart that shows the relationship between...Ch. 2 - A bar chart that shows the relationship between...Ch. 2 - A general summary of your findings and...
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- DVD Player Sales The table shows the number of DVD players sold in a small electronics store in the years 2003-2013. Year DVD players sold 2003 495 2004 513 2005 410 2006 402 2007 520 2008 580 2009 631 2010 719 2011 624 2012 582 2013 635 aWhat was the average rate of change of sales between 2003 and 2013? bWhat was the average rate of change of sales between 2003 and 2004? cWhat was the average rate of change of sales between 2004 and 2005? dBetween which two successive years did DVD player sales increase most quickly? Decrease most quickly?arrow_forwardMarket Weekly Gross Revenue ($100s) Television Advertising Newspaper Advertising Mobile 101.3 5.0 1.5 Shreveport 51.9 3.0 3.0 Jackson 74.8 4.0 1.5 Birmingham 126.2 4.3 4.3 Little Rock 137.8 3.6 4.0 Biloxi 101.4 3.5 2.3 New Orleans 237.8 5.0 8.4 Baton Rouge 219.6 6.9 5.8arrow_forwardIf it cost $8 to fill a gas tank in 1980, how much would it have cost to fill the same tank in 1990? Average Gasoline Prices (per gallon) Price as a Percentage Price Index (1980 = 100) 25.4 Year Price of 1980 Price 1960 $0.31 25.4% 1970 $0.36 $1.22 $1.23 $1.56 $2.84 29.5% 29.5 1980 1990 100.0% 100.0 100.8% 100 8 127.9 2000 2010 127.9% 232.8% 232.8 It would have cost $ in 1990. (Round to the nearest cent as needed.)arrow_forward
- If it cost $12 to fill a gas tank in 2000, how much would it have cost to fill the same tank in 1990? Average Gasoline Prices (per gallon) Year Price Price as a Percentage of 2000 Price Price Index (2000=100) 1960 $0.31 19.9% 19.9 1970 $0.36 23.1% 23.1 1980 $1.22 78.2% 78.2 1990 $1.23 78.8% 78.8 2000 $1.56 100.0% 100.0 2010 $2.84 182.1% 182.1arrow_forwardThe annual revenue of Amazon is given in the table below (sourceLinks to an external site.). Year Amazon Annual Revenue(Billions of US dollars) 2020 386.064 2019 280.522 2018 232.887 2017 177.866 2016 135.987 2015 107.006 2014 88.988 2013 74.452 2012 61.093 2011 48.077 2010 34.204 In what year will the estimated revenue of Amazon be 1,357 billion US dollars? Note: I am asking for the year, not the number of years since 2010. This may happen between two years. Round to the nearest year.arrow_forwardThe table below shows total expenditures for colleges and universities in millions of dollars. All data are in current dollars. Year 1970 1980 1990 2000 2010 Expenditures 21,063 56,914 134,666 236,754 462,100 Make a table that shows the absolute change in expenditures over each 10-year period. Period Increase ($ millions) 1970-1980 1980-1990 1990-2000 2000-2010arrow_forward
- Estimating Useful Life and Percent Used UpThe property and equipment footnote from the Deere & Company Equipment and Operations segment follows.Property and Depreciation A summary of property and equipment at October 31 follows. Useful Lives* Property and Equipment ($ millions) (Years) 2015 2014 Land $114 $120 Buildings and building equipment 23 2,794 3,037 Machinery and equipment 11 4,833 5,089 Dies, patterns, tools, etc 8 1,567 1,552 All other 5 875 889 Construction in progress 345 530 Total at cost 10,528 11,217 Less accumulated depreciation 5,846 5,694 Total $4,682 $5,523 *Weighted averages Total property and equipment additions in 2015, 2014 and 2013 were $666 million, $1,016 million and $1,158 million, and depreciation was $692 million, $696 million and $637 million, respectively.a. Compute the average useful life of Deere’s depreciable assets at year-end 2015. Round answer to one decimal place.Answer years…arrow_forwardWhat is the forecast for March using a 3-month moving average? Month Actual Demand November 20 25 December January February March 28 37 25arrow_forwardAverage Printer Year Personal Computers Sold Printers Sold Price 1 1,045 326 11875 2 1,610 510 12250 3 860 296 13000 4 1,211 478 10500 975 305 10250 6 1,117 506 9250 7 1,066 612 8750 8 1,310 560 7500 1,517 590 7000 10 1,246 676 6250 5.arrow_forward
- The Seneca Children’s Fund (SCF) is a local charity that runs a summer camp for disadvantaged children. The fund’s board of directors has been working very hard over recent years to decrease the amount of overhead expenses, a major factor in how charities are rated by independent agencies. The following data show the percentage of the money SCF has raised that was spent on administrative and fund-raising expenses over the past seven years: Year Period (t) Expense (%) 2003 1 13.9 2004 2 12.2 2005 3 10.5 2006 4 10.4 2007 5 11.5 2008 6 10.0 2009 7 8.5 a. Construct a time series plot. What type of pattern exists in the data?b. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.c. Forecast the percentage of administrative expenses for year 8.d. If SCF can maintain its current trend in reducing administrative expenses, how long will it take for SCF to achieve a level of 5% or less?arrow_forwardState Cost per Month (dollars) Alabama 9.91 Alaska 11.78 Arizona 13.30 Arkansas 15.47 California 3.47 Colorado 11.52 Connecticut 4.72 Delaware 6.85 District of Columbia 6.10 Florida 6.28 Georgia 8.52 Hawaii 18.63 Idaho 11.95 Illinois 16.08 Indiana 10.99 Iowa 14.38 Kansas 7.12 Kentucky 14.76 Louisiana 1.87 Maine 7.65 Maryland 7.54 Massachusetts 1.87 Michigan 16.38 Minnesota 13.04 Mississippi 10.41 Missouri 11.41 Montana 11.79 Nebraska 6.08 Nevada 14.05 New Hampshire 16.84 New Jersey 13.51 New Mexico 20.50 New York 8.66 North Carolina 1.87 North Dakota 8.71 lOhio 1.87 Oklahoma 1.87 Oregon 7.93 Pennsylvania 6.36 Rhode Island 3.14 South Carolina 10.07 South Dakota 7.20 Tennessee 8.86 Texas 1.87 Utah 20.59 Vermont 6.91 Virginia 1.87 Washington West Virginia 6.87 9.50 Wisconsin 14.66 Wyoming 13.15 In USE SALT (a) Use class intervals of $0 to <$3, $3 to <$6, $6 to <$9, etc., to create a relative frequency distribution for these data. (Round your answers for relative frequency to four decimal…arrow_forwardQuestion Content Area The following data were taken from Castle, Inc. Cost of goods sold $894,000 Inventory, end of year 78,000 Inventory, beginning of the year 92,000 What is (1) the inventory turnover ratio and (2) the number of days' sales in inventory for Castle Inc.? a. (1) 10.52 times(2) 34.70 days b. (1) 11.46 times(2) 31.85 days c. (1) 9.72 times(2) 37.56 days d. (1) 10.53 times(2) 34.56 daysarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Algebra and Trigonometry (MindTap Course List)AlgebraISBN:9781305071742Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage LearningMathematics For Machine TechnologyAdvanced MathISBN:9781337798310Author:Peterson, John.Publisher:Cengage Learning,
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:Cengage Learning
Mathematics For Machine Technology
Advanced Math
ISBN:9781337798310
Author:Peterson, John.
Publisher:Cengage Learning,
Correlation Vs Regression: Difference Between them with definition & Comparison Chart; Author: Key Differences;https://www.youtube.com/watch?v=Ou2QGSJVd0U;License: Standard YouTube License, CC-BY
Correlation and Regression: Concepts with Illustrative examples; Author: LEARN & APPLY : Lean and Six Sigma;https://www.youtube.com/watch?v=xTpHD5WLuoA;License: Standard YouTube License, CC-BY