Question
In: Statistics and Probability
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group health insurance plan, and let y be the average administrative cost as a percentage of claims. Suppose a random sample of employees gave the following information. x 2 8 14 32 73 y 50 45 35 28 16 Given that the value of r is -0.949, should y increase as x increases, does the value of r imply that y should tend to increase, decrease, or remain the same? Explain.
Solutions
orchestra answered 1 year agoRelated Solutions
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
32
72
y
40
35
30
27
17
(a) Make a scatter diagram of the data and visualize the line
you think best fits the data.
Submission Data
(b) Would you say the correlation is low, moderate, or strong?
positive or negative?
moderate and negative strong and
negative low...
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
38
70
y
40
35
30
26
16
(a) Make a scatter diagram of the data and visualize the line
you think best fits the data.
(b) Would you say the correlation is low, moderate, or strong?
positive or negative?
low and positive
moderate and positive
moderate and negative...
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
30
73
y
40
35
30
27
20
(c) Use a calculator to verify that Σx = 128,
Σx2 = 6512, Σy = 152,
Σy2 = 4854, and Σxy = 3085. Compute
r. (Round your answer to three decimal places.)
r = ???
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
40
71
y
40
35
30
28
19
(c) Use a calculator to verify that Σx = 136,
Σx2 = 6924, Σy = 152,
Σy2 = 4870, and Σxy = 3284. Compute
r. (Round your answer to three decimal places.)
r =
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
31
75
y
40
35
30
26
17
(a) Make a scatter diagram of the data and visualize the line
you think best fits the data.
(b) Would you say the correlation is low, moderate, or strong?
positive or negative?
low and positive strong and negative
strong and positive...
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
38
71
y
40
35
30
26
17
(b) Would you say the correlation is low, moderate, or strong?
positive or negative?
strong and negative
low and positive
moderate and negative
low and negative
strong and positive
moderate and positive
(c) Use a calculator to verify that Σx =...
Let x be the average number of employees in a group health insurance plan, and let...
Let x be the average number of employees in a group health
insurance plan, and let y be the average administrative cost as a
percentage of claims.
x
3
7
15
37
70
y
40
35
30
26
16
(a) Make a scatter diagram of the data and visualize the line
you think best fits the data.
(b) Would you say the correlation is low, moderate, or strong?
positive or negative?
moderate and negative
low and positive
low and negative...
A. Let x be the average number of employees in a group health insurance plan, and...
A. Let x be the average number of employees in a group
health insurance plan, and let y be the average
administrative cost as a percentage of claims.
x
3
7
15
33
70
y
40
35
30
27
17
Make a scatter diagram of the data and visualize the line you
think best fits the data.Use a calculator to verify that
Σx = 128, Σx2 = 6272, Σy =
149, Σy2 = 4743, and Σxy = 2896.
Compute r....
If a company provides a group hospitalization insurance plan for all employees and charges each employee...
If a company provides a group hospitalization insurance plan for
all employees and charges each employee for the premium. The
premium is $7,000 for each employee, and none of the employees can
deduct the medical insurance from their taxes since they do not
meet the 7 1/2 percent floor. The company is considering paying for
employees insurance next year in place of raises. If the company
adopts this change, the employee's after-tax and insurance pay
will:
a.
Decrease by the...
. As health insurance costs and the number of disabled employees increase, more companies are firing...
. As health insurance costs and the number of disabled employees
increase, more companies are firing these employees. A survey of
723 employers found that 195 dismiss employees as soon as they go
on long-term disability.
Construct a 95% confidence interval for the proportion of
employers who dismiss employees as soon as they go on long-term
disability.
Construct a 99% confidence interval for the proportion of
employers who dismiss employees as soon as they go on long-term
disability.
Which interval...
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