The Center on Budget and Policy Priorities (www. cbpp.org) reported that average out-of-pocket medical expenses for prescription
Question:
The Center on Budget and Policy Priorities (www.
cbpp.org) reported that average out-of-pocket medical expenses for prescription drugs for privately insured adults with incomes over 200% of the poverty level was $173 in 2002. Suppose an investigation was conducted in 2009 to determine whether the increased availability of generic drugs, Internet prescription drug purchases, and cost controls have reduced out-ofpocket drug expenses. The investigation randomly sampled 196 privately insured adults with incomes over 200% of the poverty level, and the respondents’
2009 out-of-pocket medical expenses for prescription drugs were recorded. These data are in the file Drug Expenses. Based on the sample data, can it be concluded that 2009 out-of-pocket prescription drug expenses are lower than the 2002 average reported by the Center on Budget and Policy Priorities?
Use a level of significance of 0.01 to conduct the hypothesis test.
Step by Step Answer:
Business Statistics A Decision Making Approach
ISBN: 9780136121015
8th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry, Kent D. Smith