Aetna, a major health insurance company, would like to estimate the average wait time for a patient
Question:
Aetna, a major health insurance company, would like to estimate the average wait time for a patient seeking emergency room services. A random sample of 33 emergency room patients had an average wait time of 222 minutes with a sample standard deviation of 76 minutes. Determine the confidence interval to estimate the average wait time for the following confidence levels:
a. 90%
b. 95%
c. 99%
d. How does the confidence level impact the precision of the estimate?
e. What assumptions need to be made in conjunction with this analysis?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
a b c d The higher the confidence level ...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
Question Posted:
Students also viewed these Statistics questions
-
A cruise company would like to estimate the average beer consumption to plan its beer inventory levels on future seven-day cruises. (The ship certainly doesn't want to run out of beer in the middle...
-
The Department of Labor would like to estimate the average weekly wages for U. S. adults with a margin of error equal to $ 20. Determine the sample sizes needed to construct a confidence interval for...
-
The U. S. Census Bureau would like to estimate the average annual contributions to charity by the members of Generation Y (people born in the United States in the years 1981 through 1991). The...
-
Which of the following questions involve microeconomics, and which involve macroeconomics? In each case, explain your answer. a. Why did consumers switch to smaller cars in 2008? b. Why did overall...
-
According to the classical economists, how did Says Law, the interest rate mechanism, and downwardly flexible wages and prices ensure that recessions would cure themselves?
-
Product mix, constrained resource. Taylor Furniture produces and sells specialty mattresses. Production is a machine-intensive process. Taylors variable costs are direct material costs, variable...
-
The balance sheets of Rodington Ltd and Rowton Ltd at 31 May 2009 were as follows: Notes: 1 The profits of Rodington Limited are expected to continue at 40,000 p.a. The profits of Rowton Limited have...
-
You are working as Network Design Engineer with local service provider and your manager has asked you to propose the design for the below cellular architecture shown in Figure 1. In your design...
-
a Write the vector shown below as a combination of vectors and shown above Vector = 13 + 12
-
CT Gift Shop is profitable but has a cash flow problem as of the end of June. December is the busiest month, and the shop expects to make a decent profit by the end of the year. As of the end of...
-
The makers of compact fluorescent light bulbs (CFL) claim the bulbs use 75% less energy and last 10 times longer than incandescent bulbs. A 16 watt CFL (equivalent to a 60 watt incandescent) has a...
-
Certain advertisers would like to estimate the proportion of viewers who spend the majority of their television time watching alone. The consensus is that this percentage has been increasing over the...
-
Determine the missing amounts. Unit Selling Unit Variable Unit Contribution Contribution Price Costs Margin Margin Ratio NT$6,400 NT$3,000 1. NT$3,520 (a) (b) (d) 2. (c) (f) NT$930 3. NT$3,250 25%
-
Find dylax 1-xx l-xe y = (x-1) cos (5x) = (x-2x-1) x F y= 2 Find The Equation of the Tangent Line to the Graph of f (x) = (x-1) at X = -1
-
Bostron Inc. acquired 75% of Paris Co. on January 2, 2024. In 2024, Boston sold Paris $460,000 of goods, which had cost $380,000. Paris still owned 20% of the goods at the end of the year. In 2025,...
-
During your study of T215B, you have been introduced to public key cryptographic systems which play a major role of ensuring the confidentiality of data. One of the algorithms that are based on...
-
Select one business scenario from the options below. Each scenario includes both an internal and external communication-based problem or challenge that you will need to address. Scenario One Your...
-
The article you are to work with is Rebecca Heilweil, "AI is finally good at stuff, and that's a problem," Vox https://www.vox.com/recode/2022/12/7/23498694/ai-artificial-intelligence-chat-gpt-openai...
-
What is the total number of p-subshell electrons for each of the following atoms: P, Mg, Se, Zn?
-
The diagram shows the two forces acting on a small object. Which of the following is the resultant force on the object? A. 8 N downwards B. 8 N upwards C. 2 N downwards D. 2 N upwards 3 N 5 N
-
The distance between the axes of parallel shafts connected by Oldhams coupling is 25 mm. The speed of rotation of the shafts is 320 rpm. Determine the maximum velocity of sliding of each tongue in...
-
Consider a bell-shaped distribution with a mean of 750 and a standard deviation of 50. There are 500 observations in the data set. a. What percentage of the observations are less than 700? b....
-
Data are drawn from a bell-shaped distribution with a mean of 25 and a standard deviation of 4. There are 1,000observations in the data set. a. What percentage of the observations are less than 33?...
-
Data with 250 observations are drawn from a bell-shaped distribution with a mean of 50 and a standard deviation of 12. Approximately how many observations are more than 74?
-
Current Designs 10 (Part Level Submission) The Current Designs staff has prepared the annual manufacturing budget for the rotomolded line based on an estimated annual production of 4,400 kayaks...
-
Tools Libraries Resources Readability Contents True or False Contingent gains should only be recorded if they are probable and can be reasonably estimated. Restatement of financial statements should...
-
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides estimates concerning the company's costs: Fixed Cost per...
Study smarter with the SolutionInn App