The main sources of health insurance in the United States include all of the following except

A.

​for-profit firms such as Aetna and John Hancock.

B.

household​ co-operatives, or​ co-ops.

C.

the​ government, through programs such as​ Medicare, Medicaid, and the Veterans Administration.

D.

​non-profit firms such as the Blue Cross and Blue Shield organizations.

1. CoastCo Insurance is interested in developing a forecast of larceny thefts in the United States.

1. Plot this series in a time series plot and make a naive forecast for years 2 through 19.
2. Plot actual and forecast values of the series for the years 1 through 19. (You will not have an actual value for year 19 or a forecast value for year 1.)
3. Calculate the RMSE and MAD for years 2 through 18. On the basis of these measures and what you see in the plot, what do you think of your forecast? Explain.

The mean cost of domestic airfares in the United States rose to an all-time high of $370 per ticket. Airfares were based on the total ticket value, which consisted of the price charged by the airlines plus any additional taxes and fees. Assume domestic airfares are normally distributed with a standard deviation of $120. Use Table 1 in Appendix B.

a. What is the probability that a domestic airfare is $550 or more (to 4 decimals)?

b. What is the probability that a domestic airfare is $245 or less (to 4 decimals)?

c. What if the probability that a domestic airfare is between $320 and $480 (to 4 decimals)?

d. What is the cost for the 5% highest domestic airfares? (rounded to nearest dollar)

According to a recent study annual per capita consumption of milk in the United States is 22.6 gallons. Being from the Midwest, you believe milk consumption is higher there and wish to test your hypothesis. A sample of 14 individuals from the Midwestern town of Webster City was selected and then each person's milk consumption was entered into the Microsoft Excel Online file below. Use the data to set up your spreadsheet and test your hypothesis.

a) What is a point estimate of the difference between mean annual consumption in Webster City and the national mean? (2 decimals)

b) At ? = 0.05, test for a significant difference by completing the following. Calculate the value of the test statistic (2 decimals).

c) The p-value is (4 decimals)

Choose a public company in the United States and report on its stock performance. Answer the following questions:

1. Provide a brief company description.
2. What it its stock symbol?
3. What is its current stock price (report the date/time you note the price).
4. What is the number of outstanding shares? What does this say about the company?
5. What is the one week, one month, and one year price range?
6. What are the earnings per share (EPS)? What does this mean?
7. What latest news about this company have been reported and how did the news affect the stock price?
8. Would you invest into this company? If so, would it be long or short-term? Explain.

Do NOT use Apple, Google, Tesla, or Facebook stocks.

At one time in the past land was plentiful in the United States. Garbage disposal meant hauling trash to the landfill and covering it. Consumers paid someone for this task, and for the most part that was the end of the story. As land has become scarcer and the amount of hazardous waste has increased, differing views on garbage have transpired. Since most products come with packaging and most will be thrown away eventually, it has been proposed that a disposal charge be placed on products at the point of production instead of the point of disposal. Please analyze this proposal from an economic point of view. Include externalities in your discussion.

According to a recent study annual per capita consumption of milk in the United States is 21.5 gallons. Being from the Midwest, you believe milk consumption is higher there and wish to test your hypothesis. A sample of 14 individuals from the Midwestern town of Webster City was selected and then each person's milk consumption was entered into the Microsoft Excel Online file below. Use the data to set up your spreadsheet and test your hypothesis.

Given Data:

1. What is a point estimate of the difference between mean annual consumption in Webster City and the national mean? ______ (2 decimals)

2. At ? = 0.05, test for a significant difference by completing the following.

Calculate the value of the test statistic (2 decimals). ______

The p-value is _______ (4 decimals)

USA Today reported that about 47% of the general consumer population in the United States is loyal to the automobile manufacturer of their choice. Suppose Chevrolet did a study of a random sample of 1009 Chevrolet owners and found that 482 said they would buy another Chevrolet. Does this indicate that the population proportion of consumers loyal to Chevrolet is more than 47%? Use α = 0.01.

(a) What is the level of significance?

State the null and alternate hypotheses.

(b) What sampling distribution will you use?

What is the value of the sample test statistic? (Round your answer to two decimal places.)
(c) Find the P-value of the test statistic. (Round your answer to four decimal places.)

(d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis? Are the data statistically significant at level α?

(e) Interpret your conclusion in the context of the application.

Snow avalanches can be a real problem for travelers in the western United States and Canada. A very common type of avalanche is called the slab avalanche. These have been studied extensively by David McClung, a professor of civil engineering at the University of British Columbia. Suppose slab avalanches studied in a region of Canada had an average thickness of μ = 68 cm. The ski patrol at Vail, Colorado, is studying slab avalanches in its region. A random sample of avalanches in spring gave the following thicknesses (in cm).

(i) Use a calculator with sample mean and standard deviation keys to find x and s. (Round your answers to two decimal places.)

(ii) Assume the slab thickness has an approximately normal distribution. Use a 1% level of significance to test the claim that the mean slab thickness in the Vail region is different from that in the region of Canada.

(a) What is the level of significance?


State the null and alternate hypotheses.

H₀: μ < 68; H₁: μ = 68 H₀: μ ≠ 68; H₁: μ = 68     H₀: μ = 68; H₁: μ > 68 H₀: μ = 68; H₁: μ < 68 H₀: μ = 68; H₁: μ ≠ 68

(b) What sampling distribution will you use? Explain the rationale for your choice of sampling distribution.

The standard normal, since we assume that x has a normal distribution and σ is known. The standard normal, since we assume that x has a normal distribution and σ is unknown.     The Student's t, since we assume that x has a normal distribution and σ is unknown. The Student's t, since we assume that x has a normal distribution and σ is known.

What is the value of the sample test statistic? (Round your answer to three decimal places.)

In the current tax year, IRS, the internal revenue service of the United States, estimates that five persons of the many high network individual tax returns would be fraudulent. That is, they will contain errors that are purposely made to cheat the government. Although these errors are often well concealed, let us suppose that a thorough IRS audit will uncover them.

Given this information, if a random sample of 100 such tax returns are audited, what is the probability that exactly five fraudulent returns will be uncovered? Here, the number of trials is n=100. And p=0.05 is the probability of a tax return will be fraudulent. Answer the following questions.

1. What is the probability that five fraudulent returns will be uncovered based on 100 IRS audits ? (n=100, p=0.05)
2. If a random sample of 250 high net worth tax returns are audited, what is the probability that the IRS will uncover at least 15 fraudulent errors? (n=250 and P= 0.05)
3. If a random sample of 250 high net worth tax returns are audited, what is the probability that the IRS would uncover at least 15 fraudulent returns but at most 20 fraudulent returns? (n=250 and P= 0.05)
4. What is the probability that out of the 250 randomly selected high net worth tax returns no fraudulent return is uncovered? (n=250 and P= 0.05)
5. Aside from the ethics of tax fraud and based solely on your answers to questions 1-4, do you think it would be advisable to cheat on your tax return? Do you need more information to decide? What type of information?