Confidence interval for the average drug price, Basic Statistics

+44 141 628 6080
[email protected]

Confidence interval for the average drug price

The recommended retail price of a new cancer drug is $150 per dose. The drug price in a random sample of 16 retailers is on average $141. Standard deviation $4. If this is a random sample and the prices are normally distrubuted, construct a 95% confidence interval for the average drug price.

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Confidence interval for the average drug price

Reference No:- TGS0719843

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Basic Statistics

Q : Find radius of curvature-vertical deflection at end of beam

The distance from the top surface of the beam to the neutral surface is 82.5mm. Calculate the radius of curvature and the vertical deflection at the end of the beam.

Q : Find the electric field at the position of the electron

(a) Find the electric field (in N/C) at the position of the electron. (b) What is the potential difference in volts between the plates?

Q : Represents population according to standard view

In a sample of 1000 fourth grade students, the average IQ score was 122. The prevailing view is that IQ is distributed normally with a mean of 100 and a standard deviation of 10. Draw a figure that represents the population according to the standa

Q : Determine magnitude and direction of heat transfer rate

Assume that the change in kinetic energy is negligible. Determine the magnitude and direction of heat transfer rate during the process.

Q : Confidence interval for the average drug price

The drug price in a random sample of 16 retailers is on average $141. Standard deviation $4. If this is a random sample and the prices are normally distrubuted, construct a 95% confidence interval for the average drug price.

Q : Determine the force required to hold the vane stationary

A jet of water impinges on a vane and is deflected as shown. The volume flow rate is Q = 0.16 m3/s and the nozzle speed is v = 34.1 m/s. Determine the force required to hold the vane stationary.

Q : Discuss how much cash was provided by operating activities

A company had net income of $252,000. Depreciation expense is $26,000. During the year, Accounts Receivable and Inventory increased $15,000 and $40,000, respectively. Prepaid Expenses and Accounts Payable decreased $2,000 and $4,000, respectively.

Q : Standard deviation of the sampling distribution

What sample size would be required to reduce the standard deviation of the sampling distribution to one-half the value you found above. Justify your answer.

Q : Calculate earnings per share for the year

The Poe Corporation has 50,000 shares of common stock outstanding. Net income for the year was $142,000. Poe declared and paid preferred stock dividends of $16,000 during the year. Calculate earnings per share for the year.

1958005

Questions
Asked

3,689

Active Tutors

1436098

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Confidence interval for the average drug price

Reference No:- TGS0719843

Have a Question? (oR Write a Review)

Recent Questions Asked Basic Statistics

Q : Find radius of curvature-vertical deflection at end of beam

Q : Find the electric field at the position of the electron

Q : Represents population according to standard view

Q : Determine magnitude and direction of heat transfer rate

Q : Confidence interval for the average drug price

Q : Determine the force required to hold the vane stationary

Q : Discuss how much cash was provided by operating activities

Q : Standard deviation of the sampling distribution

Q : Calculate earnings per share for the year

Factors driving the growth of the facial aesthetics market

Discuss the role of assistive technologies

Male with major depressive disorder is started on bupropion

Female with major depressive disorder consider pregnancy

Discuss about male with recurrent mdd is in remission

Patient on an antidepressant reports sexual dysfunction

What medication names requires correction

Request for Solution File

Ask an Expert for Answer!!

Basic Statistics: Confidence interval for the average drug price

Reference No:- TGS0719843

Recent Questions Asked Basic Statistics

Q : Find radius of curvature-vertical deflection at end of beam

Q : Find the electric field at the position of the electron

Q : Represents population according to standard view

Q : Determine magnitude and direction of heat transfer rate

Q : Confidence interval for the average drug price

Q : Determine the force required to hold the vane stationary

Q : Discuss how much cash was provided by operating activities

Q : Standard deviation of the sampling distribution

Q : Calculate earnings per share for the year

Asked Questions