A recent survey by G enworth Financial Inc., a financialservices company, concludes th a t the cost
Question:
A recent survey by G enworth Financial Inc., a financialservices company, concludes th a t the cost o f long-term care in the U.S. varies significantly, depending on where an individual lives (The Wall Street Journal, May 1 6 , 2009).
An econom ist collects data from the five states w ith the highest annual costs (Alaska, Massachusetts, New Jersey, Rhode Island, and Connecticut) in order to determ ine if his sample data are consistent w ith the survey's conclusions.
The econom ist provides the follow ing portion o f an ANOVA table:
ANOVA Source o f Variation SS d f MS F p-value Between Groups 635.0542 4 ? ? ?
Within Groups 253.2192 20 ?
Total 888.2734 24
a. Complete the ANOVA table.
b. Specify the com peting hypotheses to test w hether some differences exist in the mean long-term care costs in these five states.
c. At the 5% significance level, do mean costs differ? P-69
Step by Step Answer:
Business Statistics Communicating With Numbers
ISBN: 9780071317610
1st Edition
Authors: Kelly Jaggia