Question
In: Statistics and Probability
The cost of investigating insurance claims is known to have mean =$60 with r=$10 . New...
The cost of investigating insurance claims is known to have mean =$60 with r=$10 . New company procedures were started, then a sample of 36 claims showed an average cost of $57. Using alpha= .05 determine if its costs have decreased.
Solutions
orchestra answered 1 year agoRelated Solutions
A textile fiber manufacturer is investigating a new drapery yarn, which the company claims have a...
A textile fiber manufacturer is investigating a new drapery
yarn, which the company claims have a mean thread elongation of 24
kilograms with a standard deviation of 0.5 kilograms. The company
wishes to test the hypothesis using a random sample of 4 specimens.
H0: μ =24 against H1: μ<24
(a) What is the type I error probability if the critical region
is defined as kilograms?
What will be the value of X̄ ? explain why X̄ is
such.
A textile fiber manufacturer is investigating a new drapery yarn, which the company claims have a...
A textile fiber manufacturer is investigating a new drapery
yarn, which the company claims have a mean thread elongation of 24
kilograms with a standard deviation of 0.5 kilograms. The company
wishes to test the hypothesis using a random sample of 4 specimens.
H0: μ =24 against H1: μ<24
(a) What is the type I error probability if the critical region
is defined as kilograms?
What will be the value of X̄ ? explain why X̄ is
such.
13. A textile fiber manufacturer is investigating a new drapery yarn, which the company claims have...
13. A textile fiber manufacturer is investigating a new drapery
yarn, which the company
claims have a mean thread elongation of 24 kilograms with a
standard deviation of 0.5
kilograms. The company wishes to test the hypothesis
using a random sample of 4 specimens.
H0: μ =24 against H1:
μ<24
(a) What is the type I error probability if the critical region
is defined as kilograms?
(b) Find beta for the case where the true mean elongation is
23.24 kilograms....
A company claims their new cell phone model has a mean battery life of 60 hours....
A company claims their new cell phone model has a mean battery
life of 60 hours. A consumer group suspects this claim is
exaggerated so they record the battery life of 100 randomly
selected cell phones of this model and conduct a hypothesis test.
The sample gives a mean life of 58 hours and a standard deviation
of 10. Use this information to answer the following questions.
a. What is the null hypothesis about the population mean battery
life?
b....
A textile fiber manufacturer is investigating a new drapery yarn, which the company claims has a...
A textile fiber manufacturer is investigating a new drapery
yarn, which the company claims has a mean thread elongation of 15
kilograms with a standard deviation of 0.5 kilograms. The company
wishes to test the hypothesis H_0: mu = 15 against H_1: mu > 15
using a random sample of 4 specimens. Suppose also that the
critical region (rejection region) is defined as (sample mean)
X_bar > 15.41 kilograms. Calculate the beta value for the case
where the true mean...
Thetablebelowrepresentsdataonavariableofinterestcollectedfromasinglesample. It is known that the variable of interest has a mean of 10 and a...
Thetablebelowrepresentsdataonavariableofinterestcollectedfromasinglesample.
It is known that the variable of interest has a mean of 10 and a
standard deviation of 5 in the general population. A researcher is
interested in testing whether the population from which this sample
was selected is different from the general population.
DATA
9
7
12
5
6
4
8
11
3
7
8) a) What are the appropriate hypothesis for this analysis?
b) What is/are the critical value(s) for this test at a 0.05
alpha level?...
A large Distribution of Health Insurance Claims is Right Skewed, with a Mean Of $600 and...
A
large Distribution of Health Insurance Claims is Right Skewed, with
a Mean Of $600 and Standard Deviation of $50. Samples of 36 Claims
Each are Selected to form a Sampling Data Base. If a Random Sample
of 36 Claims are chosen, what is the probability that the Sample
Mean of those claims are less than $20.
An insurance company would like to compare the cost of claims at their company in two...
An insurance company would like to compare the cost of claims at
their company in two different states. They take a random sample of
50 of their claims from each state. A second insurance company
claims that the samples are dependent and that any conclusions
drawn are invalid. Do you agree? Explain. Select the correct answer
below: No, the claims made in one state should not have any effect
on the claims in another state. The company is only comparing...
6. Suppose that it is known that the mean cost for a certain medical procedure is...
6. Suppose that it is known that the mean cost for a certain
medical procedure is $50,000 and that the standard deviation is
$13,000.
(a) If you draw a random sample of 45 patients who underwent the
same medical procedure, what is the sampling distribution for the
sample mean cost based on these 45 patients? Justify your response
in one sentence.
(b) What is the probability that the sample mean cost from these
45 patients is between $52,000 and $55,000?
In a planned study, the population is known to have a mean of 500 and a...
In a planned study, the population is known to have a mean of
500 and a
standard deviation of 100. The researchers will give the
experimental treatment
to 60 people and predict the mean for those 60 will be 540. The
will use the 0.05
significance level.
a. Figure the power of this study.
b. Sketch the distributions involved.
c. What is beta?
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