A college has 240 full-time employees that are currently covered under the school's health care plan....
A college has 240 full-time employees that are currently covered under the school's health care plan. The average out-of-pocket cost for the employees on the plan is $1,820 with a standard deviation of $515. The college is performing an audit of its health care plan and has randomly selected 35 employees to analyze their out-of-pocket costs.
a. Calculate the standard error of the mean.
b. What is the probability that the sample mean will be less than $1,765?
c. What is the probability that the sample mean will be more than $1,790 ?
d. What is the probability that the sample mean will be between $1,840 and $1,870 ?
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A college has 240 full-time employees that are currently covered
under the school's health care plan....
Please answer all questions below 2. For a population with a mean equal to 250 and...
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1. A population has a mean of 129. If a random sample of 8 items from the population results in the following sampled values, what is the sampling error for the sample? 145, 129, 108, 153, 149, 154, 117, 120 2. For a population with a mean equal to 250 and a standard deviation equal to 25, calculate the standard error of the mean for the following sample sizes. a) 10 b) 40 c) 70 3. Managers at a local...
We're interested in the amount of time spent at work by college graduates employed full-time. The...
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We're interested in the amount of time spent at work by college graduates employed full-time. The...
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The employee benefits manager of a large public university would like to estimate the proportion of full-time employees who prefer adopting the first (plan A) of three available health care plans in t...
The employee benefits manager of a
large public university would like to estimate the proportion of
full-time employees who prefer adopting the first (plan A) of three
available health care plans in the next annual enrollment period. A
random sample of the university’s employees and their tentative
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We're interested in the amount of time spent at work by college graduates employed full-time. The standard amount of time spent at work by full-time employees is 40 hours per week. We suspect that the mean number of hours worked per week by college graduates is less than 40 hours and wish to do a statistical test. We select a random sample of 100 college graduates employed full-time and compute the mean number of hours worked per week by the...
The employee benefits manager of a
large public university would like to estimate the proportion of
full-time employees who prefer adopting the first (plan A) of three
available health care plans in the next annual enrollment period. A
random sample of the university’s employees and their tentative
health care preferences are given in the file
Final.xlsx sheet named Health Care. Calculate a
95% confidence interval for the proportion of all the university’s
employees who favor plan A. Round your I...
This year Evan graduated from college and took a job as a deliveryman in the city. Evan was paid a salary of $68,500 and he received $700 in hourly pay for part-time work over the weekends. Evan summarized his expenses below: Cost of moving his possessions to the city (125 miles away) Interest paid on accumulated student loans Cost of purchasing a delivery uniform Contribution to State University deliveryman program $1,200 2,840 1,440 1,320 Calculate Evan's AGI and taxable income...
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