I need some help with this problems please solve 33
1 answer:
You might be interested in
Answer:
The policy pay $47200 .
Step-by-step explanation:
As given
An insurance policy pays 80% of the first $20,000 of a patient's medical expenses, and 60% of the remainder.
80% is written in the decimal form.
= 0.80
Medical expenses pay by the insurance policy on first $20000 = 0.80 × 20000
= $16000
As given
Insurance policy pays 60% of the remainder.
The patient's total medical bill is $72,000.
Patient medical bill over $20000 = $72000 - $20000
=$52000
60% is written in the decimal form.
= 0.60
Medical expenses pay by the insurance policy on the remainder = 0.60 × $52000
= $31200
Total Medical expenses pay by the insurance policy = Medical expenses pay by the insurance policy on first $20000 + Medical expenses pay by the insurance policy on the remainder .
Total Medical expenses pay by the insurance policy = $16000 + $31200
= $47200
Therefore the policy pay $47200 .
Answer:
The system of hypothesis for this case are:
Null hypothesis:
Alternative hypothesis:
A type of error I for this case would be reject the null hypothesis that the true mean is equal than 150 when actually is not true.
Step-by-step explanation:
Previous concepts
A hypothesis is defined as "a speculation or theory based on insufficient evidence that lends itself to further testing and experimentation. With further testing, a hypothesis can usually be proven true or false".
The null hypothesis is defined as "a hypothesis that says there is no statistical significance between the two variables in the hypothesis. It is the hypothesis that the researcher is trying to disprove".
The alternative hypothesis is "just the inverse, or opposite, of the null hypothesis. It is the hypothesis that researcher is trying to prove".
Type I error, also known as a “false positive” is the error of rejecting a null hypothesis when it is actually true. Can be interpreted as the error of no reject an alternative hypothesis when the results can be attributed not to the reality.
Type II error, also known as a "false negative" is the error of not rejecting a null hypothesis when the alternative hypothesis is the true. Can be interpreted as the error of failing to accept an alternative hypothesis when we don't have enough statistical power.
Solution to the problem
The system of hypothesis for this case are:
Null hypothesis:
Alternative hypothesis:
A type of error I for this case would be reject the null hypothesis that the true mean is equal than 150 when actually is not true.