The following census was taken of the yearly health care expenditure levels Person Health Care Expenditure 250 1 2 1000 3 500 4 1500 5 1000 16 250 7 400 8 1000 9 500 10 400 11 1000 12 500 13 400 14 1000 15 500 16 400 17 1000 18 500 19 500 20 1000 Suppose that you are unable to view all of the data in the above census table so that you do not know the pmf for the data generating process (DGP) of the random variable Y representing the TRUE DGP. Instead, suppose that you assume the DGP (Y) to be normally distributed and, based on a sample comprising persons 4, 8, 12, 16, and 20, produce an estimate of the pmf of Y. Based on this estimated pmf/pdf, what is P({350
The following census was taken of the yearly health care expenditure levels Person Health Care Expenditure 250 1 2 1000 3 500 4 1500 5 1000 16 250 7 400 8 1000 9 500 10 400 11 1000 12 500 13 400 14 1000 15 500 16 400 17 1000 18 500 19 500 20 1000 Suppose that you are unable to view all of the data in the above census table so that you do not know the pmf for the data generating process (DGP) of the random variable Y representing the TRUE DGP. Instead, suppose that you assume the DGP (Y) to be normally distributed and, based on a sample comprising persons 4, 8, 12, 16, and 20, produce an estimate of the pmf of Y. Based on this estimated pmf/pdf, what is P({350
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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Transcribed Image Text:The following census was taken of the yearly health care expenditure levels
Person
Health Care
Expenditure
250
1
2
1000
3
500
4
1500
5
1000
16
250
7
400
8
1000
9
500
10
400
11
1000
12
500
13
400
14
1000
15
500
16
400
17
1000
18
500
19
500
20
1000
Suppose that you are unable to view all of the data in the above census table so that
you
do not
know the pmf for the data generating process (DGP) of the random variable Y representing the
TRUE DGP. Instead, suppose that you assume the DGP (Y) to be normally distributed and, based
on a sample comprising persons 4, 8, 12, 16, and 20, produce an estimate of the pmf of Y. Based
on this estimated pmf/pdf, what is P({350 <y≤950})?
a) .2176
b).3045
c) .4466
d) .5
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