Health insurers are beginning to offer telemedicine services online that replace the common office visit. Wellpoint provides a video service that allows subscribers to connect with a physician online and receive prescribed treatments (Bloomberg Businessweek, March 4–9, 2014). Wellpoint claims that users of its LiveHealth Online service saved a significant amount of money on a typical visit. The data shown below ($), for a sample of 20 online doctor visits, are consistent with the savings per visit reported by Wellpoint.
92 | 34 | 40 |
105 | 83 | 55 |
56 | 49 | 40 |
76 | 48 | 96 |
93 | 74 | 73 |
78 | 93 | 100 |
53 | 82 |
Assuming the population is roughly symmetric, construct a 95% confidence interval for the
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Chapter 8 Solutions
Statistics for Business & Economics
- A research group is interested in the relationship between exposure to mold in households after a major hurricane and the onset of acute respiratory illness in children. Suppose an observational study is conducted over 10 years following the natural disaster and the following two-by-two table was created in order to address the relationship between exposure and outcome. Acute Respiratory Illness No Acute Respiratory Illness Total Mold 378 156 534 No Mold 73 260 333 Total 451 416 867 Calculate the incidence of acute respiratory illness in the exposed and unexposed. Calculate the relative risk for ARI due to exposure in this study Interpret your findings from part Barrow_forwardIn an article in Accounting and Business Research, Beattie and Jones investigate the use and abuse of graphic presentations in the annual reports of United Kingdom firms. The authors found that 65 percent of the sampled companies graph at least one key financial variable, but that 30 percent of the graphics are materially distorted (nonzero vertical axis, exaggerated trend, or the like). Results for U.S. firms have been found to be similar. (a) Suppose that in a random sample of 466 graphics from the annual reports of United Kingdom firms, 142 of the graphics are found to be distorted. Find a point estimate of and a 95 percent confidence interval for the proportion of all U.K. annual report graphics that are distorted. (Round your answers to 4 decimal places.)arrow_forwardWhat is the step-step solution to this problem? Does posting calorie content for menu items affect people’s choices in fast-food restaurants? According to results obtained by Elbel, Gyamfi, and Kersh (2011), the answer is no. The researchers monitored the calorie content of food purchases for children and adolescents in four large fast-food chains before and after mandatory labeling began in New York City. Although most of the adolescents reported noticing the calorie labels, apparently the labels had no effect on their choices. Data similar to the results obtained show an average of M = 786 calories per meal with s = 85 for n = 100 children and adolescents before the labeling, compared to an average of M = 772 calories with s = 91 for a similar sample of n = 100 after the mandatory posting. Use a two-tailed test with a α .05 to determine whether the mean number of calories after the posting is significantly different than before calorie content was posted. 3. Calculate r 2 to…arrow_forward
- Large companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18-35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Holly falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 89 people in my market category who had been interviewed, 20 said they would buy the product, and of the 103 people in Holly's market category, 28 said they would buy it. Assuming that these…arrow_forwardAs health-care costs continue to increase, the number of employers who offer their employees telehealth options is growing. In 2021, net cost savings is estimated to be $19–$121 per telemedicine visit, depending on where the employee would have otherwise sought care (First Stop Health). The data shown below ($), for a random sample of 20 online doctor visits, are consistent with the savings per visit reported by First Stop Health. 93 106 55 77 94 77 52 33 84 48 49 73 92 83 41 56 41 97 74 101 Assuming the population is roughly symmetric, construct a 95% confidence interval for the mean savings (in dollars) for a televisit to the doctor as opposed to an office visit. (Round your answers to the nearest cent.)arrow_forwardLarge companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18 – 35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Diane falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 93 people in my market category who had been interviewed, 17 said they would buy the product, and of the 113 people in Diane's market category, 34 said they would buy it. Assuming that these data came…arrow_forward
- Large companies typically collect volumes of data before designing a product, not only to gain information as to whether the product should be released, but also to pinpoint which markets would be the best targets for the product. Several months ago, I was interviewed by such a company while shopping at a mall. I was asked about my exercise habits and whether or not I'd be interested in buying a video/DVD designed to teach stretching exercises. I fall into the male, 18 – 35-years-old category, and I guessed that, like me, many males in that category would not be interested in a stretching video. My friend Amanda falls in the female, older-than-35 category, and I was thinking that she might like the stretching video. After being interviewed, I looked at the interviewer's results. Of the 97 people in my market category who had been interviewed, 16 said they would buy the product, and of the 101 people in Amanda's market category, 31 said they would buy it. Assuming that these data came…arrow_forwardIn a study attempting to replicate findings by Stephens, Atkins, & Kingston (2009), each participant was asked to plunge a hand into the icy water and keep it there as long as the pain would allow. In one condition, the participants repeated their favorite curse words while their hands were in the water. In the other condition, they repeated neutral words. The original research showed that, in addition to lowering the participants’ perception of pain, swearing also increased the amount of time they were able to tolerate the pain. Data similar to the results obtained in the study are shown in the following table: _____________Amount of Time (in Seconds)_ Participant Swear Words Neutral Words 1 94 59 2 70 61 3 52 47 4…arrow_forwardIn a study attempting to replicate findings by Stephens, Atkins, & Kingston (2009), each participant was asked to plunge a hand into the icy water and keep it there as long as the pain would allow. In one condition, the participants repeated their favorite curse words while their hands were in the water. In the other condition, they repeated neutral words. The original research showed that, in addition to lowering the participants’ perception of pain, swearing also increased the amount of time they were able to tolerate the pain. Data similar to the results obtained in the study are shown in the following table: _____________Amount of Time (in Seconds)_ Participant Swear Words Neutral Words 1 94 59 2 70 61 3 52 47 4…arrow_forward
- A study was undertaken to determine whether there was a significant weight (in lb) loss after one year course of therapy for diabetes, and whether the amount of weight (in lb) loss was related to initial weight. The following table gives the initial weight (x) and weight after one year of therapy (y) for 16 newly diagnosed adult diabetic patients.arrow_forwardAccording to Deloitte, through January 25,2006, the majority of companies reporting profits had beaten estimates. Now suppose that for the 4th quarter of 2012, 170 of a random sample of 280 companies reported profits that had beaten estimates. Does the data indicate the proportion of companies in the 4th quarter of 2012 that beat estimates is greater than 56% at α=0.05?arrow_forwardThe Badrutt’s Palace Hotel St. Moritz which is one of the best Alpine hotels in Switzerland has provided you with their quarterly bookings data over the last 6 years as follows: Year Quarter-1 (Demand in units) Quarter-2 (Demand in units) Quarter-3 (Demand in units) Quarter-4 (Demand in units) 2018 45,000 22,000 64,000 33,000 2019 48,000 27,000 74,000 41,000 2020 52,000 32,000 83,000 46,000 2021 57,000 35,000 94,000 52,000 2022 61,000 42,000 104,000 56,000 2023 67,000 49,000 120,000 61,000 Required: i) Calculate the seasonal indices for each season using multiplicative index ii) Forecast the demand for each season of the year 2024 given that the annual demand forecast is 324,000 units. iii) Deseasonalize the actual demand data (2018-2023) above using the seasonal indices obtained in (a) above. iv) Generate OLS equation using the Deseasonalized data in (iii) above (in thousand units)arrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill