Answered: As health-care costs continue to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

As health-care costs continue to increase, the number of employers who offer their employees telehealth options is growing. In 2021, net cost savings is estimated to be $19–$121 per telemedicine visit, depending on where the employee would have otherwise sought care (First Stop Health). The data shown below ($), for a random sample of 20 online doctor visits, are consistent with the savings per visit reported by First Stop Health.

93	106	55	77	94	77	52	33	84	48
49	73	92	83	41	56	41	97	74	101

Assuming the population is roughly symmetric, construct a 95% confidence interval for the mean savings (in dollars) for a televisit to the doctor as opposed to an office visit. (Round your answers to the nearest cent.)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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