A study was conducted to estimate hospital costs for accident victims who wore seat belts. Twenty -four randomly selected cases have a distribution that appears to be approximately bell shaped with a mean of $9271 and a standard deviation of $5487 (a) Construct the 95% confidence interval for the mean of all such costs. (b).If you are a manager for an insurance company that provides lower rates for drivers who wear seat belts and you want a conservative estimate for a worst-case scenario, what amount should you use as the possible hospital cost for an accident victim who wears a seat belt?

A study was conducted to estimate hospital costs for accident victims who wore seat belts. Twenty -four randomly selected cases have a distribution that appears to be approximately bell shaped with a mean of $9271 and a standard deviation of $5487 (a) Construct the 95% confidence interval for the mean of all such costs. (b).If you are a manager for an insurance company that provides lower rates for drivers who wear seat belts and you want a conservative estimate for a worst-case scenario, what amount should you use as the possible hospital cost for an accident victim who wears a seat belt?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

Please help!
Intellectual development (Perry) scores were determined for 21 students in a first-year, project-based design course. (Recall that a Perry score of 1 indicates the lowest level of intellectual development, and a Perry score of 5 indicates the highest level.) The average Perry score for the 21 students was 3.27 and the standard deviation was .40. Apply the confidence interval method to estimate the true mean Perry score of all undergraduate engineering students with 90% confidence. Interpret the results.
Suppose you work for the Department of Environment and National Resources (DENR). You want to estimate, with 95% confidence, the mean length of all tilapia in a fish hatchery pond. You take a random sample of 10 tilapia and determine the average length is 10.5 inches and the sample standard deviation is 2.9 inches. Construct a confidence interval for this sample and interpret the result.
Qualitative researchers should view the opinions of other researchers about the themes derived from data analysis as biased. This is because other researchers would not be as familiar with the results as the researcher. True False A researcher has conducted a crosstabs analysis to understand the distribution of income across 3 different gender groups (male, female and non-binary). They notes that the Chi-square test produced an asymptotic significance level of 0.027. What does this suggest? (pick the most appropriate interpretation) Income does not vary across different genders Income does not differ across the different grouops There are significant differences in the distribution of income for the male, female and non-binary groups The male group has sufficiently more income compared to the female and non-binary groups
A recent Gallup Poll interviewed a random sample of 1523 adults. Of these, 868 bought a lottery tickets in the past year. Suppose that in fact (unknown to Gallup) exactly 60% of all adults bought a lottery ticket in the past year. If Gallup took many simple random samples of 1,523 people, the sample proportion who bought a ticket would vary from sample to sample. The sampling distribution would be close to normal with a mean of 0.6 and a standard deviation of___ A)0.4899 B)0.0251 C)0.00016 D)0.0126
Suppose that you are interested in the number of people in each household in the U.S. Your sample includes 10 households, with a mean 2.5 and a standard deviation 1.2. Construct a 95% confidence interval (CI) of the mean number of household members. (A) 1.2-3.8 (B) 1.4-3.6 (C)1.6-3.4 (D) 1.7-3.3 (E) 1.8-3.2
2. A common claim is that garlic lowers cholesterol levels. In a test of the effectiveness of garlic, 49 subjects were treated with doses of raw garlic, and their cholesterol levels were measured before and after the treatment. The changes in their levels of LDL cholesterol have a mean of 0.4 and a standard deviation of 21. Use the sample n = 49 to construct a 95% confidence interval estimate of the mean net change in LDL cholesterol after the garlic treatment. n=49₁ x=0,4₁ 5=21₁ CL = 95%, df=n-1 df=49-1=48
Afra is working in a bank. She has randomly contacted 36 customers and has examined their average annual salary. She found that the average salary of this sample of customers is $68200 with a sample standard deviation of $2375. She needs to report the population average at 95% confidence interval. What is the range that she should report?
A sports news station wanted to know whether people who live in the North or the South are bigger sports fans. For its study, 121 randomly selected Southerners were surveyed and found to watch a mean of 4.6 hours of sports per week. In the North, 176 randomly selected people were surveyed and found to watch a mean of 3.2 hours of sports per week. Find a 90% confidence interval for the true difference between the mean numbers of hours of sports watched per week for the two regions if the South has a population standard deviation of 1.6 hours per week and the North has a population standard deviation of 1.4 hours per week. Let Population 1 be people who live in the South and Population 2 be people who live in the North. Round the endpoints of the interval to one decimal place, if necessary. Lower endpoint: Upper endpoint: