320_hw10 - Economic Statistics Homework 10 Tests of...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Economic Statistics: Homework 10 Tests of Population Proportion, Tests of Mean Differences, Tests of Population Variance. 1. A hospital is comparing its performance against an industry benchmark that no more than 50 percent of normal births should result in a hospital stay exceeding 2 days. In their sample of 50 normal births, 31 had stays longer than 2 days. At a 0.025 significance level, is the hospital exceeding the benchmark? 2. An insurance company’s procedure in settling a claim under $10000 is to require two estimates before allowing the insured to proceed with the work. The insurance company compares estimates from two contractors (A and B) for the 10 most recent estimates and finds that the mean difference ( d ) is $-240 with a standard deviation of $327. At the 0.05 level of significance is there a difference between the two contractors? 3. Zocor is a common prescription cholesterol reducing drug. Zocor prices from randomly selected pharmacies in two different states were surveyed. The mean
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This homework help was uploaded on 04/22/2008 for the course ECON 320 taught by Professor Martin during the Spring '08 term at Allegheny.

Ask a homework question - tutors are online