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

Data were collected from three populations using a

Data were collected from three populations using a completely randomized design. The following describes the sample data: n1 = n2 = n3 =6 R1 = 55 R2 = 64 R3 = 78 Conducting a test of hypothesis to verify whether there is ...

Data interpretationresearch reportyour taskwrite a report

Data Interpretation Research Report Your task: Write a report on the statistical relationship that you find between the stock price of the company that you have been assigned and the following three variables: the FTSE, ...

A real number x is randomly chosen from the interval 010

A real number X is randomly chosen from the interval [0,10], dividing the interval into a left and a right side. Find the probability that the left side is at least four times as big as the right.

How did religion shape indian reaction to white settlement

How did religion shape Indian reaction to white settlement in the nineteenth century?

125 wordshow did the theodore d weld william lloyd garrison

125 words How did the Theodore D. Weld, William Lloyd Garrison, Arthur and Lewis Tappan, and Elizur Wright, Jr assist in the freeing of or ending of slaves/slavery?

There are 1000 students in a high school among the 1000

There are 1000 students in a high school. Among the 1000 students, 150 students take AP Statistics, and 300 students take AP French. 100 students take both AP courses. Let S be the event that a randomly selected student ...

The average batter life of the iphone 4s is reported to be

The average batter life of the iPhone 4S is reported to be 6.0 hours by Apple. Assume that the population standard deviation for the better life for this cell phone is 30 minutes. A random sample of 50 iPhones had an ave ...

A professor has learned that four students in her class of

A professor has learned that four students in her class of 18 will cheat on the exam. She decides to focus her attention on seven randomly chosen students during the exam. a. What is the probability that she finds at lea ...

How did some indian religious leaders add certain christian

How did some Indian religious leaders add certain Christian teachings to their traditional beliefs?

Two pollsters are conducting surveys to estimate the

Two pollsters are conducting surveys to estimate the proportion of Clarkston, Michigan citizens who support a bond issue to build a sports stadium. Both pollsters use the same methods; however, their sample sizes differ. ...

  • 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