Economics For Healthcare Managers
4th Edition
ISBN: 9781640550483
Author: Robert H. Lee
Publisher: Health Administration Pr
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Chapter 4, Problem 14E
To determine
Calculate the average and standard deviation of the sample.
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A set of average city temperatures in August are normally distributed with a mean of 21.25° C and a standard
deviation of 2°C.
What proportion of temperatures are between 19.63°C and 20.53°C?
You may round your answer to four decimal places.
Use the body temperatures, in degrees Fahrenheit, listed in the accompanying table. The range of the data is 3.3°F. Use the range rule of thumb to estimate the value of the standard deviation. Compare the result to
the actual standard deviation of the data rounded to two decimal places, 0.69°F, assuming the goal is to approximate the standard deviation within 0.2°F.
The estimated standard deviation is °F.
(Round to two decimal places as needed.)
Compare the result to the actual standard deviation.
The estimated standard deviation is
C
the actual standard deviation. Thus, the estimated standard deviation
Data table
the goal.
99 98.2 97.5 98.4 99.2 98 98.7 98.5 98.1 98.1 98.5 99.3
98.7 96.7 96.5 98.7 98 97.3 98.4 98 97.7 98.3 98.9 97.1
99 97.1 98.7 98.6 99.4 97.6 97.6 97.7 97.9 99.4 98.7 99.6
97.8 97.9 99 98.3 97.7 98.7 98.2 98.7 97.6 98 97.7 98.6
98.5 98.3 97.7 99 96.3 98 98.2 96.8 97.3 97.3 97.5 98.5
97.6 97.7 97.2 97.7 98 98.8 99 98.5 98 97.8 97 97.3
99.1 98.7 98.6 98.3 98.4 99 98…
An analysis of the grades on the first test in History 101 revealed that they approximate a normal curve with a mean of 75 and a standard deviation of 8. The instructor wants to award the grade of A to the upper 10% of the test grades. To the nearest percent, what is the dividing point between an A and a B grade?
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- Consider a very large number of students taking a college entrance exam such as the SAT. And suppose the mean score on the mathematics section of the SAT is 570 with a standard deviation of 40.a. Find the z-score for a student who scored 600.b. A student is told that his z-score on this test is -1.5. What was his actual SAT math score?arrow_forwardData on nail salons throughout the city of Los Angeles finds an average price of a manicure is $22.50 with a standard deviation of $2.10. Data resembles the normal curve. About what percentage of nail services cost less than $18? + + + a 1. The z-score is 2. the corresponding area in the middle is 3. the percentage of manicures that cost less than $18 is,arrow_forwardOn average a supermarket sells 500 litres of milk a day with a standard deviation of 50 litres. If the supermarket has 600 litres in stock at the beginning of a day, what is the probability that it will run out of milk? What is the probability that demand is between 450 and 600 litres in a day? How many litres should the supermarket stock if it wants the probability of running out to be 0.05? 4. How many should it stock if it wants the probability of running out to be 0.01?arrow_forward
- Help me with 11. Pleasearrow_forwardSuppose that a particular large hotel has 790 rooms. Furthermore, suppose that for weekend nights the mean demand for rooms is 730 rooms with a standard deviation of 35 rooms. What is the probability that over a sample of 35 weekend nights, the hotel will sell at least an average of 740 rooms over this sample? (please round your answer to 4 decimal places).arrow_forwardQuestion: The average hourly wage of a sample of 150 workers in a plant 'A' was Dollar 2.56 with a standard deviation of Dollar 1-08. The average hourly wage of a sample of 200 workers in plant 'B' was Dollar 2.87 with a standard deviation of Dollar 1.28. Can an applicant safely assume that the hourly wages paid by plant 'B' are higher than those paid by plant 'A'?arrow_forward
- The average marks on an Economics Assignment is 55%, with a standard deviation of 5%. The Examiners note that the distribution of the marks is normal. A. Define 'Normal Distribution' including key properties and illustrate with a diagram. What is the proportion of frequencies below 35%? What is the proportion of frequencies above 80%? What is the proportion of marks between 40% and 70% ?arrow_forwardQuestion 6 Prospect Z ($2, 0.30 ; $14, 0.40; $29, 0.30) What is the standard deviation of prospect Z? (Note: The answer may not be a whole number: please round to the nearest hundredth) (Note: The numbers may change between questions, so read carefully)arrow_forwardA company produces lightbulbs with a mean lifetime of 1,200 hours and a standard deviation of 50 hours.a. Describe the distribution of lifetimes if the shape of the population is unknown.b. Describe the distribution of lifetimes if the shape of the distribution is known to be bell-shaped.arrow_forward
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