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
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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.
 Spring '08
 Martin

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