Health insurers are beginning to offer telemedicine services online that replace the common office visit. WellPoint provides a video service that allows subscribers to connect with a physician online and receive prescribed treatments. WellPoint claims that users of its LiveHealth Online service saved a significant amount of money on a typical visit. The data shown below (Rs), for a sample of 20 online doctor visits, are consistent with the savings per visit reported by WellPoint. 92, 34, 40, 105, 83, 55, 56, 49, 40, 76, 48, 96, 93, 74, 73, 78, 93, 100, 53, and 82 Assuming the population is roughly symmetric, construct a 95% confidence interval for the mean savings for a tele visit to the doctor as opposed to an office visit.
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Health insurers are beginning to offer telemedicine services online that replace the common
office visit. WellPoint provides a video service that allows subscribers to connect with a
physician online and receive prescribed treatments. WellPoint claims that users of its
LiveHealth Online service saved a significant amount of money on a typical visit. The data
shown below (Rs), for a sample of 20 online doctor visits, are consistent with the savings per
visit reported by WellPoint.
92, 34, 40, 105, 83, 55, 56, 49, 40, 76, 48, 96, 93, 74, 73, 78, 93, 100, 53, and 82
Assuming the population is roughly symmetric, construct a 95% confidence interval for the
mean savings for a tele visit to the doctor as opposed to an office visit.
(Note: Each value is separated by ‘,’ from the other value).
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