Question
Jennifer Nguyen, a Humber College Healthcare Management program graduate who always had only perfect marks in statistics, was hired by the famous Healthy Life medical
Jennifer Nguyen, a Humber College Healthcare Management program graduate who always had only perfect marks in statistics, was hired by the famous Healthy Life medical insurance company. Jennifer is assigned to conduct statistical analysis of medical and financial data. As Jennifer is on probation, please help her to complete the following six tasks. In problems 2-6, state hypotheses H0 and H1 and provide detailed conclusions (based on P-values or critical values/test statistics) together with the Excel output. For your convenience the data are given in the Data file.
1. Jennifer's manager Dr. Jonathan Steinberg, who has degrees and publications in both mathematical statistics and medical science, asked her to find estimates of the average dental claim reimbursement for 2021. As Healthy Life has many thousands of clients it is virtually impossible to calculate the population mean. Using the Excel Random Number Generator function, Jennifer found a random sample of 53 dental claims submitted to Healthy Life. The amounts covered by insurance you can see in the Major Assignment Data file. Please help Jennifer Nguyen to construct 90%, 95%, and 99% confidence intervals for the true average reimbursement. Make sure that t-distribution is applicable: build a histogram with the given bin values, for example, $100, $200, $300, $400, and $500, and check whether it is approximately symmetric and bell-shaped. Then, use Descriptive Statistics function from Data Analysis. Constructing confidence intervals, please round values to at least two decimal places. (Use Data Analysis Histogram, and Data Analysis Descriptive
| Dental Claim Number | Amount Covered | Bin | ||
| 1 | $192.75 | $100 | ||
| 2 | $192.75 | $200 | ||
| 3 | $350.25 | $300 | ||
| 4 | $200.00 | $400 | ||
| 5 | $225.00 | $500 | ||
| 6 | $95.00 | |||
| 7 | $375.50 | |||
| 8 | $380.00 | |||
| 9 | $192.75 | |||
| 10 | $400.00 | |||
| 11 | $230.00 | |||
| 12 | $245.00 | |||
| 13 | $150.00 | |||
| 14 | $250.00 | |||
| 15 | $250.00 | |||
| 16 | $340.00 | |||
| 17 | $225.50 | |||
| 18 | $156.25 | |||
| 19 | $300.00 | |||
| 20 | $350.00 | |||
| 21 | $435.00 | |||
| 22 | $192.75 | |||
| 23 | $192.75 | |||
| 24 | $250.00 | |||
| 25 | $225.00 | |||
| 26 | $390.00 | |||
| 27 | $190.00 | |||
| 28 | $250.00 | |||
| 29 | $250.00 | |||
| 30 | $250.00 | |||
| 31 | $350.00 | |||
| 32 | $98.00 | |||
| 33 | $405.00 | |||
| 34 | $295.00 | |||
| 35 | $205.00 | |||
| 36 | $230.00 | |||
| 37 | $245.00 | |||
| 38 | $950.00 | |||
| 39 | $250.00 | |||
| 40 | $250.00 | |||
| 41 | $340.00 | |||
| 42 | $225.50 | |||
| 43 | $192.75 | |||
| 44 | $192.75 | |||
| 45 | $250.00 | |||
| 46 | $225.00 | |||
| 47 | $350.00 | |||
| 48 | $250.00 | |||
| 49 | $250.00 | |||
| 50 | $340.00 | |||
| 51 | $299.00 | |||
| 52 | $285.00 | |||
| 53 | $215.00 |
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Fundamental Accounting Principles Volume I
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305821
