annual expenditure for prescription drugs was $838 per person in the northeast of thecountry (Hospital care cost institute website, november 7, 2012). a sample of 60 individuals in the Midwest showed a per person annual expenditure for prescription drugsof $745. use a population standard deviation of $300 to answer the following questions.a. formulate hypotheses for a test to determine whether the sample data support theconclusion that the population annual expenditure for prescription drugs per person islower in the Midwest than in the northeast.b. what is the value of the test statistic?c. what is the p-value?d. at a 5 .01, what is your conclusion?
annual expenditure for prescription drugs was $838 per person in the northeast of thecountry (Hospital care cost institute website, november 7, 2012). a sample of 60 individuals in the Midwest showed a per person annual expenditure for prescription drugsof $745. use a population standard deviation of $300 to answer the following questions.a. formulate hypotheses for a test to determine whether the sample data support theconclusion that the population annual expenditure for prescription drugs per person islower in the Midwest than in the northeast.b. what is the value of the test statistic?c. what is the p-value?d. at a 5 .01, what is your conclusion?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Topic Video
Question
annual expenditure for prescription drugs was $838 per person in the northeast of the
country (Hospital care cost institute website, november 7, 2012). a sample of 60 individuals in the Midwest showed a per person annual expenditure for prescription drugs
of $745. use a population standard deviation of $300 to answer the following questions.
a. formulate hypotheses for a test to determine whether the sample data support the
conclusion that the population annual expenditure for prescription drugs per person is
lower in the Midwest than in the northeast.
b. what is the value of the test statistic?
c. what is the p-value?
d. at a 5 .01, what is your conclusion?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman