Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Coefficient of variation and standard deviation.

So as to make the best decision about the health care initiative under discussion, the US Congress is considering data from 3 countries, representing 3 different philosophies in health care management. They want to study data from the last 15 years on average expenditures per person per year with standard deviation over the 15 years listed below:

 Country A

Average per person per Year is 4100 US Dollars

Standard Deviation: 800 dollars

 Country B

Average per person per year is 250,000 yen

Standard deviation is: 20,000 yen

 Country C

Average per person per year is 2100 Euros

Standard deviation is 300 Euros

 Assume: $1 USD = 100 yen and $2 USD = 1 Euro.

a) Country A and Country C spends about the same quantity on average per person per year. Which has the greater spread?

b) Which country has the lowest CV and what does this mean? No explanation, no credit.

c) In the above, the sample variances given are all computed taking the data as samples. If you were to consider data set for country A as a population, would the mean and/or the standard deviation be the same? Go up? Or go down?

Mean___________, Standard Deviation___________

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M920664

Have any Question? 


Related Questions in Statistics and Probability

Produce an spss output for an independent- samples t-test

Produce an SPSS output for an independent- samples t-test comparing male and female scores on self-esteem. a.) what are the null and alternative hypothesis? b.) What is the value of Cohen's d? Report in APA format. c.) W ...

Plot four different regression graphs x v y tomatometer v

Plot four different regression graphs (X v Y): Tomatometer v Audience, Budget v Gross, Budget v Tomatometer, Audience v Gross and find the best-fit line equation and correlation coefficient (r-value) for each one. X repr ...

Thirteen students were randomly selected from the college

Thirteen students were randomly selected from the College of Public Health and their diastolic blood pressure was tested. The sample mean and standard deviation were 80.9 mmHg and 2.1 mmHg respectively. What is the obtai ...

Forty-four percent of consumers with credit cards carry

Forty-four percent of consumers with credit cards carry balances from month to month. five consumers with credit cards are randomly selected. What is the probability that all consumers carry a credit card balance?

What were the key events that marked the move toward

What were the key events that marked the move toward American Independence?

Best ribs wishes to pay off a debt of 40000 in 7 years what

Best Ribs wishes to pay off a debt of $40,000 in 7 years. What amortization payment would they need to make each six months, at 6% interest compounded semiannually? (Use Table 12-2 from your text) $3,541.05 $3,910.63 $2, ...

A war of attrition game two small grocery stores on the

A war of attrition game.) Two small grocery stores on the same block are feeling the effects of a large supermarket that was recently constructed a half-mile away. As long as both remain in business, each will lose $1000 ...

Imagine that you have collected the following set of iq

Imagine that you have collected the following set of IQ scores: 110 124 100 125 104 119 98 130 76 95 143 90 132 102 125 96 99 78 100 80 112 112 103 88 94 108 88 132 87 119 109 104 104 100 119 99 135 128 92 110 90 92 120 ...

Describe the collapse of the soviet union begin with the

Describe the collapse of the Soviet Union. Begin with the events during the 1980s including the entire Gorbachev era. Should include at least the following topics: 1. Poland's democratic revolution of the 1980s 2. Gorbac ...

1 what is the difference between simple also known as

1. What is the difference between simple (also known as univariate and bivariate) regression and multivariate regression? A) Simple regression includes one independent variable, and multivariate regression includes more ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro