1. How many occurrences are reflected in the class with the least monthly out-of-pocket expenditures ?...

1. How many occurrences are reflected in the class with the least monthly out-of-pocket expenditures ?

2. Compute the average monthly out-of-pocket expenditures for prescription drugs for the sample of senior citizens.

	a.	63
	b.	101
	c.	32.31
	d.	25.20

Monthly Expenditures	Frequency
1-25	240
26-50	165
51-75	80
76-100	15
101-125	5

Expert Solution

1.

There are 240 occurrences reflected in the class with the least monthly out-of-pocket expenditures(1-25).

2.

The grouped data information provided, with the corresponding frequencies is shown in the table below:

Classes	Frequency (f)
1-25	240
26-50	165
51-75	80
76-100	15
101-125	5

For each of the grouped classes we need to compute the midpoint (M), by calculating the average between the lower and upper value of the class. Then, the following table si obtained:

Classes	M	f	M · f	M² · f
1-25	13	240	3120	40560
26-50	38	165	6270	238260
51-75	63	80	5040	317520
76-100	88	15	1320	116160
101-125	113	5	565	63845
	Sum =	505	16315	776345

From the table, we compute the sample mean as follows:

OPTION C is correct!

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orchestra answered 1 year ago

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