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

In the following cross-lagged panel design does x appear to

In the following cross-lagged panel design, does X appear to cause Y, does Y appear to cause X, do both variables influence each other, or are X and Y unrelated?

1 give five examples of physiological measures2 what

1. Give five examples of physiological measures. 2. What considerations must a researcher keep in mind when writing the questions to be used on a questionnaire or in an interview? 3. What is a double-barreled question? 4 ...

Assume a normal distribution for n 300 how many cases

Assume a normal distribution for N = 300. How many cases would one expect to find between +1 and -1 standard deviations around the mean? 102 285 150 204

Cnsider selecting one card at a time from a 52-card deck

Consider selecting one card at a time from a 52-card deck. What is the probability that the first card is from the suit of hearts and the second card is also from the suit of hearts? (Note there are 13 cards from the sui ...

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 ...

Answer the following questions showing all work1 using

Answer the following questions showing all work. 1. Using http://onlinestatbook.com/stat_sim/sampling_dist/index.html, select a population distribution that is NOT normal (i.e., heavily skewed, uniform, bimodal). Using t ...

Electronic mail game let lgtmgt 0 be two positive real

Electronic Mail game Let L>M> 0 be two positive real numbers. Two players play a game in which the payoff function is one of the following two, depending on the value of the state of nature s, which may be 1 or 2: The pr ...

1 what three rules govern the construction of a grouped

1. What three rules govern the construction of a grouped frequency distribution? 2. What is the difference between a histogram and a bar graph? 3. Distinguish among the median, mode, and mean.

At a local college 316 of the male students are smokers and

At a local college, 316 of the male students are smokers and 474 are non-smokers. Of the female students, 70 are smokers and 630 are non-smokers. A male student and a female student from the college are randomly selected ...

Discuss the radical reconstruction as a constitutional

Discuss the Radical Reconstruction as a Constitutional Revolution.

  • 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