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The Health Care Cost Institute tracks health care expenditures for beneficiaries under the age of 65 who are covered by employ­ er­sponsored private health insurance. The data contained in the file DrugCost are con­ sistent with the institute’s findings concerning annual prescription costs per employee. Analyze the data using Excel and answer the following questions.                                                                                                                                                                                                                                       a. Develop a 90% confidence interval for the annual cost of prescription drugs.                                                                                             b. Develop a 90% confidence interval for the amount of out­of­pocket expense per employee                                                                 c. What is your point estimate of the proportion of employees who incurred no pre­ scription drug costs?                                     d. Which, if either, of the confidence intervals in parts (a) and (b) has a larger margin of error. Why?  Total Annual Cost  Employee Out-of-Pocket 0 0 998 244 947 229 0 0 1025 248 618 149 481 116 314 76 757 183 373 90 1031 249 1250 302 0 0 1366 330 0 0 0 0 1634 395 909 220 504 122 0 0 2269 549 2256 546 559 135 654 158 665 161 1886 456 1477 357 0 0 1878 454 2098 508 0 0 998 241 934 226 1392 337 0 0 1928 466 332 80 289 70 1096 265 0 0 1293 313 1579 382 1745 422 1924 465 0 0 0 0 0 0 507 123 0 0 1050 254 0 0 0 0 0 0 1424 344 0 0 436 105 1296 314 1277 309 0 0 1545 374 423 102 2195 531 580 140 1168 283 1740 421 775 187 0 0 0 0 118 29 0 0 731 177 1289 312 0 0 538 130 1913 463 211 51 0 0 0 0 771 187 1764 427 565 137 0 0 851 206 0 0 0 0 826 200 1910 462 0 0 0 0 732 177 487 118 677 164 1988 481 1934 468 1617 391 1041 252 0 0 0 0 1332 322 0 0 1947 471 727 176 0 0 700 169 1184 286 1735 420 539 130 0 0 2299 556 825 200 0 0 832 201 1333 322 535 129 1825 441 1099 266 913 221 923 223 0 0 0 0 0 0 642 155 859 208 539 130 1602 388 0 0 0 0 0 0 437 106 2010 486 2090 506 1482 358 740 179 1239 300 1170 283 369 89 1920 464 1978 478 752 182 1029 249 0 0 735 178 714 173 0 0 2331 564 652 158 1847 447 572 138 0 0 760 184 469 113 2014 487 526 127 1530 370 559 135 1083 262 0 0 0 0 724 175 0 0 1550 375 0 0 0 0 722 175 0 0 1364 330 0 0 0 0 1652 400 997 241 560 135 1082 262 1368 331 1636 396 0 0 1757 425 0 0 0 0 1534 371 1619 392 0 0 0 0 1415 342 0 0 584 141 0 0 1136 275 0 0 1546 374 0 0 0 0 0 0 250 60 0 0 1513 366 0 0 0 0 0 0 2249 544 0 0 1533 371 0 0 0 0 0 0 0 0 702 170 830 201 3366 814 1962 475 0 0 1838 445 376 91 0 0 0 0 990 239 0 0 2160 523 0 0 0 0 645 156 544 132 397 96 1838 445 0 0 0 0 0 0 950 230 1332 322 0 0 1803 436 0 0 0 0 1051 254 0 0 1221 295 1393 337 0 0 0 0 0 0 255 62 1707 413 517 125 0 0 1798 435 892 216 495 120 672 163 1848 447 435 105 656 159 53 13 1936 468 2030 491 0 0 1869 452 2050 496 930 225 678 164 2532 612 1625 393 2641 639 450 109 1283 310 1369 331 0 0 0 0 0 0 1409 341 0 0 1759 426 1837 444 1489 360 577 140 350 85 0 0 1400 339 0 0 1312 317 1666 403 1592 385 0 0 1767 427 0 0 1083 262 1635 396 393 95 0 0 969 234 1819 440 0 0 1159 280 544 132 461 112 1120 271 0 0 0 0 2001 484 415 100 0 0 1008 244 0 0 0 0 0 0 1198 290 726 176 1798 435 1682 407 482 117 754 182 0 0 693 168 851 206 0 0 587 142 1213 293 1164 282 0 0 649 157 520 126 908 220 1096 265 0 0 1403 339 1897 459 594 144 0 0 1289 312 603 146 481 116 675 163 0 0 771 187 0 0 830 201 530 128 586 142 2980 721 1059 256 96 23 1972 477 793 192 2023 489 0 0 234 57 568 137 0 0 1418 343 1889 457 552 134 0 0 349 84 1417 343 1182 286 0 0 1438 348 0 0 1181 286 496 120 565 137 0 0 0 0 1961 474 0 0 1162 281 0 0 1439 348 600 145 0 0 843 204 0 0 0 0 0 0 0 0 950 230 1937 469 0 0 1296 314 497 120 588 142 1811 438 0 0 0 0 2244 543 0 0 1159 280 1836 444 1728 418 1334 323 1280 310 1354 328 0 0 0 0 1816 439 1352 327 1963 475 0 0 801 194 2070 501 0 0 1076 260

The Health Care Cost Institute tracks health care expenditures for beneficiaries under the age of 65 who are covered by employ­ er­sponsored private health insurance. The data contained in the file DrugCost are con­ sistent with the institute’s findings concerning annual prescription costs per employee. Analyze the data using Excel and answer the following questions.                                                                                                                                                                                                                                       a. Develop a 90% confidence interval for the annual cost of prescription drugs.                                                                                             b. Develop a 90% confidence interval for the amount of out­of­pocket expense per employee                                                                 c. What is your point estimate of the proportion of employees who incurred no pre­ scription drug costs?                                     d. Which, if either, of the confidence intervals in parts (a) and (b) has a larger margin of error. Why?  Total Annual Cost  Employee Out-of-Pocket 0 0 998 244 947 229 0 0 1025 248 618 149 481 116 314 76 757 183 373 90 1031 249 1250 302 0 0 1366 330 0 0 0 0 1634 395 909 220 504 122 0 0 2269 549 2256 546 559 135 654 158 665 161 1886 456 1477 357 0 0 1878 454 2098 508 0 0 998 241 934 226 1392 337 0 0 1928 466 332 80 289 70 1096 265 0 0 1293 313 1579 382 1745 422 1924 465 0 0 0 0 0 0 507 123 0 0 1050 254 0 0 0 0 0 0 1424 344 0 0 436 105 1296 314 1277 309 0 0 1545 374 423 102 2195 531 580 140 1168 283 1740 421 775 187 0 0 0 0 118 29 0 0 731 177 1289 312 0 0 538 130 1913 463 211 51 0 0 0 0 771 187 1764 427 565 137 0 0 851 206 0 0 0 0 826 200 1910 462 0 0 0 0 732 177 487 118 677 164 1988 481 1934 468 1617 391 1041 252 0 0 0 0 1332 322 0 0 1947 471 727 176 0 0 700 169 1184 286 1735 420 539 130 0 0 2299 556 825 200 0 0 832 201 1333 322 535 129 1825 441 1099 266 913 221 923 223 0 0 0 0 0 0 642 155 859 208 539 130 1602 388 0 0 0 0 0 0 437 106 2010 486 2090 506 1482 358 740 179 1239 300 1170 283 369 89 1920 464 1978 478 752 182 1029 249 0 0 735 178 714 173 0 0 2331 564 652 158 1847 447 572 138 0 0 760 184 469 113 2014 487 526 127 1530 370 559 135 1083 262 0 0 0 0 724 175 0 0 1550 375 0 0 0 0 722 175 0 0 1364 330 0 0 0 0 1652 400 997 241 560 135 1082 262 1368 331 1636 396 0 0 1757 425 0 0 0 0 1534 371 1619 392 0 0 0 0 1415 342 0 0 584 141 0 0 1136 275 0 0 1546 374 0 0 0 0 0 0 250 60 0 0 1513 366 0 0 0 0 0 0 2249 544 0 0 1533 371 0 0 0 0 0 0 0 0 702 170 830 201 3366 814 1962 475 0 0 1838 445 376 91 0 0 0 0 990 239 0 0 2160 523 0 0 0 0 645 156 544 132 397 96 1838 445 0 0 0 0 0 0 950 230 1332 322 0 0 1803 436 0 0 0 0 1051 254 0 0 1221 295 1393 337 0 0 0 0 0 0 255 62 1707 413 517 125 0 0 1798 435 892 216 495 120 672 163 1848 447 435 105 656 159 53 13 1936 468 2030 491 0 0 1869 452 2050 496 930 225 678 164 2532 612 1625 393 2641 639 450 109 1283 310 1369 331 0 0 0 0 0 0 1409 341 0 0 1759 426 1837 444 1489 360 577 140 350 85 0 0 1400 339 0 0 1312 317 1666 403 1592 385 0 0 1767 427 0 0 1083 262 1635 396 393 95 0 0 969 234 1819 440 0 0 1159 280 544 132 461 112 1120 271 0 0 0 0 2001 484 415 100 0 0 1008 244 0 0 0 0 0 0 1198 290 726 176 1798 435 1682 407 482 117 754 182 0 0 693 168 851 206 0 0 587 142 1213 293 1164 282 0 0 649 157 520 126 908 220 1096 265 0 0 1403 339 1897 459 594 144 0 0 1289 312 603 146 481 116 675 163 0 0 771 187 0 0 830 201 530 128 586 142 2980 721 1059 256 96 23 1972 477 793 192 2023 489 0 0 234 57 568 137 0 0 1418 343 1889 457 552 134 0 0 349 84 1417 343 1182 286 0 0 1438 348 0 0 1181 286 496 120 565 137 0 0 0 0 1961 474 0 0 1162 281 0 0 1439 348 600 145 0 0 843 204 0 0 0 0 0 0 0 0 950 230 1937 469 0 0 1296 314 497 120 588 142 1811 438 0 0 0 0 2244 543 0 0 1159 280 1836 444 1728 418 1334 323 1280 310 1354 328 0 0 0 0 1816 439 1352 327 1963 475 0 0 801 194 2070 501 0 0 1076 260

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 8SGR
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Question

 The Health Care Cost Institute tracks health care expenditures for beneficiaries under the age of 65 who are covered by employ­ er­sponsored private health insurance. The data contained in the file DrugCost are con­ sistent with the institute’s findings concerning annual prescription costs per employee. Analyze the data using Excel and answer the following questions.                                                                                                                                                                                                                                       a. Develop a 90% confidence interval for the annual cost of prescription drugs.                                                                                             b. Develop a 90% confidence interval for the amount of out­of­pocket expense per employee                                                                 c. What is your point estimate of the proportion of employees who incurred no pre­ scription drug costs?                                    

d. Which, if either, of the confidence intervals in parts (a) and (b) has a larger margin of error. Why? 

Total Annual Cost  Employee Out-of-Pocket
0 0
998 244
947 229
0 0
1025 248
618 149
481 116
314 76
757 183
373 90
1031 249
1250 302
0 0
1366 330
0 0
0 0
1634 395
909 220
504 122
0 0
2269 549
2256 546
559 135
654 158
665 161
1886 456
1477 357
0 0
1878 454
2098 508
0 0
998 241
934 226
1392 337
0 0
1928 466
332 80
289 70
1096 265
0 0
1293 313
1579 382
1745 422
1924 465
0 0
0 0
0 0
507 123
0 0
1050 254
0 0
0 0
0 0
1424 344
0 0
436 105
1296 314
1277 309
0 0
1545 374
423 102
2195 531
580 140
1168 283
1740 421
775 187
0 0
0 0
118 29
0 0
731 177
1289 312
0 0
538 130
1913 463
211 51
0 0
0 0
771 187
1764 427
565 137
0 0
851 206
0 0
0 0
826 200
1910 462
0 0
0 0
732 177
487 118
677 164
1988 481
1934 468
1617 391
1041 252
0 0
0 0
1332 322
0 0
1947 471
727 176
0 0
700 169
1184 286
1735 420
539 130
0 0
2299 556
825 200
0 0
832 201
1333 322
535 129
1825 441
1099 266
913 221
923 223
0 0
0 0
0 0
642 155
859 208
539 130
1602 388
0 0
0 0
0 0
437 106
2010 486
2090 506
1482 358
740 179
1239 300
1170 283
369 89
1920 464
1978 478
752 182
1029 249
0 0
735 178
714 173
0 0
2331 564
652 158
1847 447
572 138
0 0
760 184
469 113
2014 487
526 127
1530 370
559 135
1083 262
0 0
0 0
724 175
0 0
1550 375
0 0
0 0
722 175
0 0
1364 330
0 0
0 0
1652 400
997 241
560 135
1082 262
1368 331
1636 396
0 0
1757 425
0 0
0 0
1534 371
1619 392
0 0
0 0
1415 342
0 0
584 141
0 0
1136 275
0 0
1546 374
0 0
0 0
0 0
250 60
0 0
1513 366
0 0
0 0
0 0
2249 544
0 0
1533 371
0 0
0 0
0 0
0 0
702 170
830 201
3366 814
1962 475
0 0
1838 445
376 91
0 0
0 0
990 239
0 0
2160 523
0 0
0 0
645 156
544 132
397 96
1838 445
0 0
0 0
0 0
950 230
1332 322
0 0
1803 436
0 0
0 0
1051 254
0 0
1221 295
1393 337
0 0
0 0
0 0
255 62
1707 413
517 125
0 0
1798 435
892 216
495 120
672 163
1848 447
435 105
656 159
53 13
1936 468
2030 491
0 0
1869 452
2050 496
930 225
678 164
2532 612
1625 393
2641 639
450 109
1283 310
1369 331
0 0
0 0
0 0
1409 341
0 0
1759 426
1837 444
1489 360
577 140
350 85
0 0
1400 339
0 0
1312 317
1666 403
1592 385
0 0
1767 427
0 0
1083 262
1635 396
393 95
0 0
969 234
1819 440
0 0
1159 280
544 132
461 112
1120 271
0 0
0 0
2001 484
415 100
0 0
1008 244
0 0
0 0
0 0
1198 290
726 176
1798 435
1682 407
482 117
754 182
0 0
693 168
851 206
0 0
587 142
1213 293
1164 282
0 0
649 157
520 126
908 220
1096 265
0 0
1403 339
1897 459
594 144
0 0
1289 312
603 146
481 116
675 163
0 0
771 187
0 0
830 201
530 128
586 142
2980 721
1059 256
96 23
1972 477
793 192
2023 489
0 0
234 57
568 137
0 0
1418 343
1889 457
552 134
0 0
349 84
1417 343
1182 286
0 0
1438 348
0 0
1181 286
496 120
565 137
0 0
0 0
1961 474
0 0
1162 281
0 0
1439 348
600 145
0 0
843 204
0 0
0 0
0 0
0 0
950 230
1937 469
0 0
1296 314
497 120
588 142
1811 438
0 0
0 0
2244 543
0 0
1159 280
1836 444
1728 418
1334 323
1280 310
1354 328
0 0
0 0
1816 439
1352 327
1963 475
0 0
801 194
2070 501
0 0
1076 260
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