A politician claims that medical insurance companies do not cover a majority of the cost and...

A politician claims that medical insurance companies do not cover a majority of the cost and the average patient has to pay more than $10,000 in hospital bills. Using the critical value method, test this claim at the 5% level of significance. Why might having high hospital charges be an issue for patients?

Mean= 13266.97

Standard Deviation= 12110.01

Expert Solution

milcah answered 14 hours ago

What advantages do you consider that there are agreementsbetween insurance companies and medical entities for...

What advantages do you consider that there are agreements between insurance companies and medical entities for determining the prices of services?What advantages do you consider that there are agreements between insurance companies and medical entities for determining the prices of services?

Why don't private insurance companies cover buildings for floods?

How can insurance companies offer a guarantee to pay for certain medical expenses? How do they...

How can insurance companies offer a guarantee to pay for certain medical expenses? How do they determine the appropriate premium to charge?

Insurance companies pay for (or cover) health services for employed people who have insurance. What group...

Insurance companies pay for (or cover) health services for employed people who have insurance. What group decides what services will be paid for? A) Federal government B) State government C) Company that issues the insurance policy D) Employer who purchases the insurance

you landed a summer internship with a company that processes dental insurance claims for insurance companies....

you landed a summer internship with a company that processes dental insurance claims for insurance companies. The company receives the insurance claims from dental offices, achieves authorization from the correct insurance company, and sends payment checks. You do not deal with dental customers directly; instead, you work with insurance companies on one side and dental offices on the other. After two months with the company, you think a number of frauds may be occurring, and you feel the best way...

Medical insurance is beginning to cover telemedicine office visits. True or False Telepsychiatry is the recommenced...

Medical insurance is beginning to cover telemedicine office visits. True or False Telepsychiatry is the recommenced therapy for anyone regardless of mental disorder. True or False A gamma knife is used to make incisions. True or False MIDAS is a US funded plan for researchers to use computers to model diseases. True or False RFID stands for radio frequency identification decoder and is used in many hospitals to monitor patients. True or False

Using the Stark Insurance Group data on closed claims for medical malpractice liability insurance (presented in...

Using the Stark Insurance Group data on closed claims for medical malpractice liability insurance (presented in the previous tables), determine if medical malpractice was more risky during the 2010-2013 period than it was in the 2014-2017 period. Injury year Estimated # of claims Estimated $ per claim 2010 1021 $415,326.26 2011 1087 $448,871.57 2012 1184 $477,333.66 2013 1291 $490,215.19 2014 1191 $516,696.63 2015 1098 $587,233.93 2016 1055 $536,983.82 2017 1110 $403,504.39 Calculate the standard deviation in the estimated payment per...

From the same Texas Department of Insurance data on closed claims for medical malpractice liability insurance...

From the same Texas Department of Insurance data on closed claims for medical malpractice liability insurance referred to in Problem 1, we can estimate the number of claims in each year of injury that will be closed in the next 16 years. We obtain the following data. Here the estimated dollars per claim for each year have been adjusted to 2007 dollars to account for inflation, so the values are all compatible. Texas was said to have had a “medical...

A politician claims that she will receive 60% of the votes in an upcoming election. The...

A politician claims that she will receive 60% of the votes in an upcoming election. The results of a simple random sample of 100 voters showed that 52 of those samples will vote for her. (a) Construct a 92% confidence interval to estimate the actual percent of votes she will receive in the upcoming election. (b) If the confidence level was increased, is it likely that her claim would still be supported? Justify without constructing the new confidence interval.

Which of the following are types of insurance companies purchase to help cover losses resulting from...

Which of the following are types of insurance companies purchase to help cover losses resulting from employee activity. Choose two A) Victim insurance B) Fidelity bonds C) Conformity bonds D) Casualty insurance

Question