Question
In: Statistics and Probability
In an article about the cost of health care, Money magazine reported that a visit to...
In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328 (Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Answer the following questions about the cost of a hospital emergency room visit for this medical service.
- What is the probability that the cost will be more than $500?
- What is the probability that the cost will be less than $250?
- What is the probability that the cost will be between $300 and $400?
- If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit?
Solutions
orchestra answered 2 years agoRelated Solutions
In an article about the cost of health care, Money magazine reported that a visit to...
In an article about the cost of health care, Money
magazine reported that a visit to a hospital emergency room for
something as simple as a sore throat has a mean cost of $328
(Money, January 2009). Assume that the cost for this type
of hospital emergency room visit is normally distributed with a
standard deviation of $92. Answer the following questions about the
cost of a hospital emergency room visit for this medical
service.
What is the probability that...
Federal Initiatives for Health IT Investments and Management talk about Health Care Information System Standards. Visit...
Federal Initiatives for Health IT Investments and
Management talk about Health Care Information System
Standards. Visit the ONC website at
https://www.healthit.gov/topic/standards-technology and research
activities related to standards and interoperability occurring at
the national level. How can the harmonization and adoption of
standards facilitate achieving the nation's health care reform
goals? Evaluate the impact on the IHI Triple Aim goals of better
health, better care at lower costs and give your reasons.
An article in Fortune magazine reported on the rapid rise of fees and expenses charged by...
An article in Fortune magazine reported on the rapid
rise of fees and expenses charged by mutual funds. Assuming that
stock fund expenses and municipal bond fund expenses are each
approximately normally distributed, suppose a random sample of 12
stock funds gives a mean annual expense of 1.63 percent with a
standard deviation of .31 percent, and an independent random sample
of 12 municipal bond funds gives a mean annual expense of 0.89
percent with a standard deviation of .23...
An article in Fortune magazine reported on the rapid rise of fees and expenses charged by...
An article in Fortune magazine reported on the rapid rise of
fees and expenses charged by mutual funds. Assuming that stock fund
expenses and municipal bond fund expenses are each approximately
normally distributed, suppose a random sample of 12 stock funds
gives a mean annual expense of 1.63 percent with a standard
deviation of .31 percent, and an independent random sample of 12
municipal bond funds gives a mean annual expense of 0.89 percent
with a standard deviation of .23...
An article in Fortune magazine reported on the rapid rise of fees and expenses charged by...
An article in Fortune magazine reported on the rapid
rise of fees and expenses charged by mutual funds. Assuming that
stock fund expenses and municipal bond fund expenses are each
approximately normally distributed, suppose a random sample of 12
stock funds gives a mean annual expense of 1.63 percent with a
standard deviation of 0.45 percent, and an independent random
sample of 12 municipal bond funds gives a mean annual expense of
0.93 percent with a standard deviation of 0.20...
An article in Fortune magazine reported on the rapid rise of fees and expenses charged by...
An article in Fortune magazine reported on the rapid
rise of fees and expenses charged by mutual funds. Assuming that
stock fund expenses and municipal bond fund expenses are each
approximately normally distributed, suppose a random sample of 12
stock funds gives a mean annual expense of 1.60 percent with a
standard deviation of .33 percent, and an independent random sample
of 12 municipal bond funds gives a mean annual expense of .88
percent with a standard deviation of .25...
An article in Fortune magazine reported on the rapid rise of fees and expenses charged by...
An article in Fortune magazine reported on the rapid
rise of fees and expenses charged by mutual funds. Assuming that
stock fund expenses and municipal bond fund expenses are each
approximately normally distributed, suppose a random sample of 12
stock funds gives a mean annual expense of 1.50 percent with a
standard deviation of 0.38 percent, and an independent random
sample of 12 municipal bond funds gives a mean annual expense of
0.73 percent with a standard deviation of 0.40...
An article in Parenting magazine reported that 35% of Americans needed a vacation after visiting their...
An article in
Parenting magazine reported that 35% of Americans needed a vacation
after visiting their families for the holidays. Suppose this is the
true proportion of Americans who feel this way. A random sample of
200 Americans is taken. Let X be the number of people who feel that
way in this random sample.
a) What is the mean of
X?
b) Using the normal
approximation, what is the probability that more than 80 people in
the sample feel...
1.) Read an article about a certain culture and describe their values, beliefs and health care....
1.) Read an article about a certain culture and describe their
values, beliefs and health care. Cite your reference, author and
date of publication. Give your reaction.
2.) How does a man become human and what are the changes that
affects the choices made by a person? How does the person react to
the threat of non being?
Late payment of medical claims can add to the cost of health care. An article (M....
Late payment of medical claims can add to the cost of
health care. An article (M. Freudenheim, “The Check Is Not in the
Mail,” The New York Times, May, 2018) reported that for one
insurance company, 85% of the claims were paid in full when first
submitted. Suppose that the insurance company developed a new
payment system in an effort to improve this payment rate. A sample
of 200 claims processed under this system revealed that 180 of the
claims...
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