Answered: Medicare Hospital Insurance The average…

Calculus For The Life Sciences

2nd Edition

ISBN:9780321964038

Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.

Chapter13: Probability And Calculus

Section13.3: Special Probability Density Functions

Problem 40E: Pygmy Height The average height of a member of a certain tribe of pygmies is 3.2ft, with a standard...

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Medicare Hospital Insurance The average yearly Medicare Hospital Insurance benefit per person was $4064 in a recent year Suppose the benefits are normally distributed with a standard deviation of $460. Round the final answers to at least four decimal places and intermediate value calculations to two decimal places. Find the probability that the mean benefit for a random sample of 23 patients is more than $4,230.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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