Question

1) The personnel department of a large corporation wants to estimate the family dental expenses of its employees to determine the feasibility of providing a dental insurance plan. A random sample of 12 employees in 2004 reveals the following family dental expenses (in dollars): 115, 370, 250, 93, 540, 225, 177, 425, 318, 182, 275, and 228. The sample mean is ______________

Construct a 95% confidence interval estimate of the mean family dental expenses for all employees of this corporation. The upper boundary/limit is______________ and the lower boundary/limit is_________________1 . (Please keep two decimal points.)

2)Of type I and type II error, which is traditionally regarded as more serious?

• A. Type I

• B. Type II

• C. Type I and Type II are equally serious

• D. Neither Type I or Type II is serious and both can be avoided

Answer 1

I have explained two parts with formulae below :-

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The Sample near Is Dental Eschenses 115 370 250 93 540 225 177 210-50 2(2-2) 06-30 - 151.5 229522 103.5 10 712.2 -16.5 272.25 -173.5 30 102.25 273.5 74802,25 - 41.5 1722.25 - 89.5 80l6.25 158.5 25122.25 51.5 2652.25 - 84.5 7190.25 8.5 72.25 - 38.5 1482.25 3198 _266,5 2 275 228 3198 Sample Mean m Sample Standar Deviahon ac - 22 in-1 185 04 2.55 - 129.69

Population Standard Devration - Samhle. S.P. - 129.69 2004 129.69 3.464 = 37.43 Confudend Interval e point estimate I reliability facta X Standaed Error Point Estimate = mean = 266.5 Standard error & 37.43 Relictulely factor & I @ 95% confudinc 0 level and (on-ll degrees of freedom 266. 5 I 2.201 x 37,43 Lower Boundry - 266.5 - 82.38=184.12. Wher Boundry = 266.5 + 82.38=348.88 Lower - 184.12 grey Whher 348.88

Out of the type 1 and type two error type 1 error is more vulnerable.