As a healthcare insurance provider, you sell health insurance for a yearly premium. The probability that a randomly selected person who buys health insurance from you will get sick and charge \$6,000 per year is 40\%. If the yearly insurance premium is \$12,000 then who do you think wins, the insurance provider or

As a healthcare insurance provider, you sell health insurance for a yearly premium. The probability that a randomly selected person who buys health insurance from you will get sick and charge \$6,000 per year is 40\%. If the yearly insurance premium is \$12,000 then who do you think wins, the insurance provider or

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter9: Sequences, Probability And Counting Theory

Section9.7: Probability

Problem 1SE: What term is used to express the likelihood of an event occurring? Are there restrictions on its...

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What term is used to express the likelihood of an event occurring? Are there restrictions on its values? If so, what are they? If not, explain.
Ariatnam, Najafi, and Morones (Journal of professional Issues in Engineering Education andPractice, 2002) describe an overview of academies in horizontal directional drilling conducted totrain engineers and inspector for the California Department of Transportation. A pretest wasadministered on the first day prior to any instruction. Instruction and field experience wereprovided over a 3 day period, followed by a final test administered at the end of the last day.Although the average final test score of 75.27% was higher than the average pretest score of55.61%, the difference was not significant.a. Identify the type of the study described here.b. What is the purpose of administering the pretest?
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Perform the test of hypothesis on the following scenarios. The minimum wage earners of the National Capital Region are believed to be receiving less than Php 5,000.00 per day. The CEO of a large supermarket chain in the region is claiming to be paying its contractual higher than the minimum daily wage rate of Php 500.00 To check on this claim, a labour union leader obtained a random sample of 144 contractual employees from this supermarket chain. The survey of their daily wage earnings resulted to an average wage of Php 510.00 per day with standard deviation of Php 100.00. The daily wage of the region is assumed to follow a distribution with unknown population variance. Perform a test of hypothesis at 5% level of significance to help the labour union leader make an empirical based conclusion on the CEO's claim. Note: pls follow the steps in the photo attached
Please fill out the last box using the data provided (Hypothesis test)
When determining whether grounding accidents and hull failures result in different spillage (is there a difference between spills caused by grounding or hull failures) would I use a two tail t test to decide this?
Suppose your null hypothesis is that engineering majors earn more than $80,000. Further, researchers collect and analyze sample data that leads them to fail to reject this null hypothesis. However, in the population, it is true that engineering majors earn less than $80,000. What would we call this error? a. Type I error b. Type II error c. No error occured d. Error equal to the level of significance
The designer of an SAT prep course wants to test whether persons who take the course increase their SAT scores, on average. To do so, the founder selects a random sample of course takers and compares their SAT scores from before taking the course to their SAT scores after taking the course. Which situation below would represent a Type Il Error for the associated test of hypotheses?
A Deputy Registrar at a certainty university conducted a Chi-Square test of association to establish whether or not employee grade and level of absenteeism were associated. Table 2 below shows part of the results which were obtained. Table 2: Cross tabulation of employee grade and level of absenteeism Contingency Tables Grade LAbsence 1 2 3 Total low Observed 8 1 0 9 Expected 2.90 3.48 2.61 9.00 high Observed 2 11 9 22 Expected 7.10 8.52 6.39 22.00 Total Observed 10 12 9 31 Expected 10.00 12.00 9.00 31.00 2.1 State the appropriate measurement scales for the variables. 2.2 State the null and alternative hypotheses. 2.3 Calculate the expected frequency corresponding to a Grade 3 academic with a high level of absenteeism. 2.4 Find the Chi-Square critical value and test statistic.…
A Deputy Registrar at a certainty university conducted a Chi-Square test of association to establish whether or not employee grade and level of absenteeism were associated. Table 2 below shows part of the results which were obtained. Table 2: Cross tabulation of employee grade and level of absenteeism Contingency Tables Grade LAbsence 1 2 3 Total low Observed 8 1 0 9 Expected 2.90 3.48 2.61 9.00 high Observed 2 11 9 22 Expected 7.10 8.52 6.39 22.00 Total Observed 10 12 9 31 Expected 10.00 12.00 9.00 31.00 2.2 State the null and alternative hypotheses.
A Deputy Registrar at a certainty university conducted a Chi-Square test of association to establish whether or not employee grade and level of absenteeism were associated. Table 2 below shows part of the results which were obtained. Table 2: Cross tabulation of employee grade and level of absenteeism Contingency Tables Grade LAbsence 1 2 3 Total low Observed 8 1 0 9 Expected 2.90 3.48 2.61 9.00 high Observed 2 11 9 22 Expected 7.10 8.52 6.39 22.00 Total Observed 10 12 9 31 Expected 10.00 12.00 9.00 31.00 2.3 Calculate the expected frequency corresponding to a Grade 3 academic with a high level of absenteeism.
A Deputy Registrar at a certainty university conducted a Chi-Square test of association to establish whether or not employee grade and level of absenteeism were associated. Table 2 below shows part of the results which were obtained. Table 2: Cross tabulation of employee grade and level of absenteeism Contingency Tables Grade LAbsence 1 2 3 Total low Observed 8 1 0 9 Expected 2.90 3.48 2.61 9.00 high Observed 2 11 9 22 Expected 7.10 8.52 6.39 22.00 Total Observed 10 12 9 31 Expected 10.00 12.00 9.00 31.00 2.4 Find the Chi-Square critical value and test statistic. Hence, conduct a Chi-Square test of association at 5% level of significance clearly stating your decision and conclusion.