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Unit 5 hw assign | Management homework help

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Answer the following questions in a Word or Excel file. Show all work.

  1. Assume that a certain nursing home has two categories of payers. Medicaid pays $60.00 per day and private pay patients pay the established per diem, but approximately 10 percent of private pay charges are not collected. If 50 percent of the patients are Medicaid and 50 percent are private pay, what rate must be set to generate $150,000 in profit? Variable costs are $45.00 per day and fixed costs are expected to be $1,000,000. Expected volume is 50,000 patient days.
  2. Using this data and assuming that the nursing home charges $100 per day, what would be the nursing home’s required volume (in patient days) in order to make $150,000 profit?

Hint:

The key in this homework is to break down the numbers in the problem passage:

This hint is for question #1

  1. Medicaid pays $60.00
  2. The private payer has a per diem, but 10% is not collected so, what percentage does the private payer pay at a discounted rate?
  3. 50% of the patients are Medicaid, and 50% are private care: There are a total of 50,000 patients, how many are Medicaid and how many are Private pay?
  4. The Variable cost is $45
  5. The Fixed cost is $1,000,000
  6. The desired (target) profit is $150,000
  7. You have to solve for the rate-setting. There is a formula in chapter 14 that fixes this scenario.

This hint is for Question #2

  1. You have multiple payers Medicaid and Private
  2. You are to use the data from Question #1 to assist in solving this problem
  3. You are to solve for the volume.  Breakeven analysis is also called cost volume profit analysis
  4. In the formula for this problem you first have to set the value for the variable e.g. V = variable cost = $45, F = Fixed Cost = $1,000,000, NI = Target cost (what is the target cost?).  Once you have identified each variable value, it will be easy to calculate the volume.
  5. There are variables that have 0 value because the problem does not have values for those variables. 
  6. There is a formula in chapter 14 that fixes this scenario. 
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July 1, 2023
    
  1. The Times per week a student uses a lab computer are normally distributed, with a mean of 6.6 hours and a standard deviation of 1.1 hours.  A student is randomly selected. Find the following probabilites

 

  a) Find the probability that a student uses a lab computer less than 4 hours per week is

b ) The probabilty that student uses a lab computer between 5 to 7 hours per week is

c) The probability that a student uses a lab computer more than 8 hours per week is

All answers round to 3 decimal places

  1. A researcher wishes to estimate with 95% confidence. The proportion of adults who have high speed internet. Her estimate must be 1% of the true proportion.
    Find the minimum sample size needed using a prior study that found 34% of the respondents saying they have high speed internet. Then find the minimal sample size for no preliminary estimates available
  2. A random sample of forty-two 200-meter swims has a meant time of 3.724 minutes and a standard deviation of 0.080 minutes. A 95% confidence interval for the population mean time is (3.704,3.744)

Construct a 95% confidence interval for the population mean time using a standard deviation of 0.05 minutes. Which confidence interval is wider?

  1. The state test scores for 12 randomly selected high school seniors are shown below

Assume the population is normally distributed.

 

1428       1220       990        

698         729         831        

730         749         546        

 

(a)    Find the sample mean

(b)   Find the sample standard deviation.

(c)    construct a 99% confidence interval for the population mean u

5.  Assume the Poison distribution applies use the given mean to find the indicated probability.

Find P(4) when u=8

6..

Find the equation of the regression line for the data. Then construct a scatter plot of the data and draw the regression line. (the pair of variables has a significant correlation) then us the regression equation to predict the value of y for each of the given x-values, if meaningful. The table shoes shoe size and height in inches for 6 men.

 

Shoe size, x

Height, y

6.0

65.5

10.0

70.5

11.0

72.5

11.5

74.5

12.0

74.5

13.0

72.5

 

What is the regression equation?

Predict the value of y for x = 9.5

Predict the value of y for x = 8.0?

Predict the value of y for x = 14.5?

Predict the value of y for x = 9.0 ?

7.  For your study on the food consumption habits of teenage males you randomly select 10 teenage males and aske each how many 12 ounch servings soda he drinks each day. The results are below. At a=0.01, is there enough evidence to support the claim that teenage males drink fewer than three 12ounce servings of soda per day? Assume the population is normally distributed?

3.4

2.9

2.6

2.1

1.9

3.9

2.6

3.6

3.5

1.2

Write the claim mathematically and identify Ho and Ha ?

Use technology to find the P-value

Decide whether to reject or fail to reject the null hypothesis?

Interpret the decision in the context of the original claim.

8. An employment information service claims the mean annual pay for the full-time male workers over age 25 without a high school diploma is $22,350. The annual pay for a random sample of 10 full-time workers over age 25 without a high school diploma is listed. At a=0.10, test the claim that the mean salary is $22,350. Assume the population is normally distributed.

20,650

21,135

22,355

21,399

22,974

16,914

19,150

23,194

24,187

26,287

 

Write the claim mathematically and identify Ho and Ha ?

Find the critical value and identify the rejection region?

Find the standardized test statistic.

Decide whether to reject or fail to reject the null hypothesis?

Interpret the decision in the context of the original claim.?

9. A company that makes cola drinks states that the mean caffeine content per 12-ounch bottle of cola is 50milligrams. You want to test this claim. During your test you find that a random sample of thirty 12-ounce bottles of cola has a mean caffeine content of 49.3 milligrams with a standard deviation of 6.6 milligrams. At a=0.02, can you reject the companys claim?

 

Write the claim mathematically and identify Ho and Ha ?

Find the critical value and identify the rejection region?

Decide whether to reject or fail to reject the null hypothesis?

10. The altitude (in thousands of feet) and speed of a plane(in feet per second) for various altitudes is shown below.

Altitude, x

Speed, y

0

962.2

5

1106.8

10

981.8

15

1016.8

20

994.7

25

1007.8

30

1033.1

35

1104.9

The correlation is strong or weak  AND positive or  negative linear correlation?

 

default image
July 1, 2023
    
  1. The Times per week a student uses a lab computer are normally distributed, with a mean of 6.6 hours and a standard deviation of 1.1 hours.  A student is randomly selected. Find the following probabilites

 

  a) Find the probability that a student uses a lab computer less than 4 hours per week is

b ) The probabilty that student uses a lab computer between 5 to 7 hours per week is

c) The probability that a student uses a lab computer more than 8 hours per week is

All answers round to 3 decimal places

  1. A researcher wishes to estimate with 95% confidence. The proportion of adults who have high speed internet. Her estimate must be 1% of the true proportion.
    Find the minimum sample size needed using a prior study that found 34% of the respondents saying they have high speed internet. Then find the minimal sample size for no preliminary estimates available
  2. A random sample of forty-two 200-meter swims has a meant time of 3.724 minutes and a standard deviation of 0.080 minutes. A 95% confidence interval for the population mean time is (3.704,3.744)

Construct a 95% confidence interval for the population mean time using a standard deviation of 0.05 minutes. Which confidence interval is wider?

  1. The state test scores for 12 randomly selected high school seniors are shown below

Assume the population is normally distributed.

 

1428       1220       990        

698         729         831        

730         749         546        

 

(a)    Find the sample mean

(b)   Find the sample standard deviation.

(c)    construct a 99% confidence interval for the population mean u

5.  Assume the Poison distribution applies use the given mean to find the indicated probability.

Find P(4) when u=8

6..

Find the equation of the regression line for the data. Then construct a scatter plot of the data and draw the regression line. (the pair of variables has a significant correlation) then us the regression equation to predict the value of y for each of the given x-values, if meaningful. The table shoes shoe size and height in inches for 6 men.

 

Shoe size, x

Height, y

6.0

65.5

10.0

70.5

11.0

72.5

11.5

74.5

12.0

74.5

13.0

72.5

 

What is the regression equation?

Predict the value of y for x = 9.5

Predict the value of y for x = 8.0?

Predict the value of y for x = 14.5?

Predict the value of y for x = 9.0 ?

7.  For your study on the food consumption habits of teenage males you randomly select 10 teenage males and aske each how many 12 ounch servings soda he drinks each day. The results are below. At a=0.01, is there enough evidence to support the claim that teenage males drink fewer than three 12ounce servings of soda per day? Assume the population is normally distributed?

3.4

2.9

2.6

2.1

1.9

3.9

2.6

3.6

3.5

1.2

Write the claim mathematically and identify Ho and Ha ?

Use technology to find the P-value

Decide whether to reject or fail to reject the null hypothesis?

Interpret the decision in the context of the original claim.

8. An employment information service claims the mean annual pay for the full-time male workers over age 25 without a high school diploma is $22,350. The annual pay for a random sample of 10 full-time workers over age 25 without a high school diploma is listed. At a=0.10, test the claim that the mean salary is $22,350. Assume the population is normally distributed.

20,650

21,135

22,355

21,399

22,974

16,914

19,150

23,194

24,187

26,287

 

Write the claim mathematically and identify Ho and Ha ?

Find the critical value and identify the rejection region?

Find the standardized test statistic.

Decide whether to reject or fail to reject the null hypothesis?

Interpret the decision in the context of the original claim.?

9. A company that makes cola drinks states that the mean caffeine content per 12-ounch bottle of cola is 50milligrams. You want to test this claim. During your test you find that a random sample of thirty 12-ounce bottles of cola has a mean caffeine content of 49.3 milligrams with a standard deviation of 6.6 milligrams. At a=0.02, can you reject the companys claim?

 

Write the claim mathematically and identify Ho and Ha ?

Find the critical value and identify the rejection region?

Decide whether to reject or fail to reject the null hypothesis?

10. The altitude (in thousands of feet) and speed of a plane(in feet per second) for various altitudes is shown below.

Altitude, x

Speed, y

0

962.2

5

1106.8

10

981.8

15

1016.8

20

994.7

25

1007.8

30

1033.1

35

1104.9

The correlation is strong or weak  AND positive or  negative linear correlation?

 

default image
July 1, 2023
    
  1. The Times per week a student uses a lab computer are normally distributed, with a mean of 6.6 hours and a standard deviation of 1.1 hours.  A student is randomly selected. Find the following probabilites

 

  a) Find the probability that a student uses a lab computer less than 4 hours per week is

b ) The probabilty that student uses a lab computer between 5 to 7 hours per week is

c) The probability that a student uses a lab computer more than 8 hours per week is

All answers round to 3 decimal places

  1. A researcher wishes to estimate with 95% confidence. The proportion of adults who have high speed internet. Her estimate must be 1% of the true proportion.
    Find the minimum sample size needed using a prior study that found 34% of the respondents saying they have high speed internet. Then find the minimal sample size for no preliminary estimates available
  2. A random sample of forty-two 200-meter swims has a meant time of 3.724 minutes and a standard deviation of 0.080 minutes. A 95% confidence interval for the population mean time is (3.704,3.744)

Construct a 95% confidence interval for the population mean time using a standard deviation of 0.05 minutes. Which confidence interval is wider?

  1. The state test scores for 12 randomly selected high school seniors are shown below

Assume the population is normally distributed.

 

1428       1220       990        

698         729         831        

730         749         546        

 

(a)    Find the sample mean

(b)   Find the sample standard deviation.

(c)    construct a 99% confidence interval for the population mean u

5.  Assume the Poison distribution applies use the given mean to find the indicated probability.

Find P(4) when u=8

6..

Find the equation of the regression line for the data. Then construct a scatter plot of the data and draw the regression line. (the pair of variables has a significant correlation) then us the regression equation to predict the value of y for each of the given x-values, if meaningful. The table shoes shoe size and height in inches for 6 men.

 

Shoe size, x

Height, y

6.0

65.5

10.0

70.5

11.0

72.5

11.5

74.5

12.0

74.5

13.0

72.5

 

What is the regression equation?

Predict the value of y for x = 9.5

Predict the value of y for x = 8.0?

Predict the value of y for x = 14.5?

Predict the value of y for x = 9.0 ?

7.  For your study on the food consumption habits of teenage males you randomly select 10 teenage males and aske each how many 12 ounch servings soda he drinks each day. The results are below. At a=0.01, is there enough evidence to support the claim that teenage males drink fewer than three 12ounce servings of soda per day? Assume the population is normally distributed?

3.4

2.9

2.6

2.1

1.9

3.9

2.6

3.6

3.5

1.2

Write the claim mathematically and identify Ho and Ha ?

Use technology to find the P-value

Decide whether to reject or fail to reject the null hypothesis?

Interpret the decision in the context of the original claim.

8. An employment information service claims the mean annual pay for the full-time male workers over age 25 without a high school diploma is $22,350. The annual pay for a random sample of 10 full-time workers over age 25 without a high school diploma is listed. At a=0.10, test the claim that the mean salary is $22,350. Assume the population is normally distributed.

20,650

21,135

22,355

21,399

22,974

16,914

19,150

23,194

24,187

26,287

 

Write the claim mathematically and identify Ho and Ha ?

Find the critical value and identify the rejection region?

Find the standardized test statistic.

Decide whether to reject or fail to reject the null hypothesis?

Interpret the decision in the context of the original claim.?

9. A company that makes cola drinks states that the mean caffeine content per 12-ounch bottle of cola is 50milligrams. You want to test this claim. During your test you find that a random sample of thirty 12-ounce bottles of cola has a mean caffeine content of 49.3 milligrams with a standard deviation of 6.6 milligrams. At a=0.02, can you reject the companys claim?

 

Write the claim mathematically and identify Ho and Ha ?

Find the critical value and identify the rejection region?

Decide whether to reject or fail to reject the null hypothesis?

10. The altitude (in thousands of feet) and speed of a plane(in feet per second) for various altitudes is shown below.

Altitude, x

Speed, y

0

962.2

5

1106.8

10

981.8

15

1016.8

20

994.7

25

1007.8

30

1033.1

35

1104.9

The correlation is strong or weak  AND positive or  negative linear correlation?

 

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