In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328(Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Answer the following questions about the cost of a hospital emergency room visit for this medical service. (a.) What is the probability that the cost will be more than $500? (b.) What is the probability that the cost will be less than $250? (c.) What is the probability that the cost will be between $300 and $400? (d.) If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit?
In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328(Money, January 2009). Assume that the cost for this type of hospital emergency room visit is
(a.) What is the probability that the cost will be more than $500?
(b.) What is the probability that the cost will be less than $250?
(c.) What is the probability that the cost will be between $300 and $400?
(d.) If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit?
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