document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=464993>Question 464993</A>: <I><SPAN STYLE=\"word-break: break-all;\"> In an article about the cost of health care, Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328 (Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. Answer the following questions about the cost of a hospital emergency room visit for this medical service.\r<BR>\n" );
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document.write( "What is the probability that the cost will be more than $500? (to 4 decimals)<BR>\n" );
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document.write( "What is the probability that the cost will be less than $250? (to 4 decimals)<BR>\n" );
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document.write( "What is the probability that the cost will be between $300 and $400? (in inches, to 4 decimals)<BR>\n" );
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document.write( "If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit? (to 2 decimals) <BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #318588 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=318588\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Money magazine reported that a visit to a hospital emergency room for something as simple as a sore throat has a mean cost of $328 (Money, January 2009). Assume that the cost for this type of hospital emergency room visit is normally distributed with a standard deviation of $92. <BR>\n" );
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document.write( "Answer the following questions about the cost of a hospital emergency room visit for this medical service.<BR>\n" );
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document.write( "What is the probability that the cost will be more than $500? (to 4 decimals)<BR>\n" );
document.write( "z(500) = (500-328)/92 = 1.8696<BR>\n" );
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document.write( "P(x > 500) = P(z > 1.8692) = normalcdf(1.8692,100) = 0.0308<BR>\n" );
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document.write( "What is the probability that the cost will be less than $250? (to 4 decimals)<BR>\n" );
document.write( "Find the z-value of 250.<BR>\n" );
document.write( "Find the probability that z is less than that calculated z-value.<BR>\n" );
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document.write( "What is the probability that the cost will be between $300 and $400? (in inches, to 4 decimals)<BR>\n" );
document.write( "Find the z-value for 400 and for 300.<BR>\n" );
document.write( "Find the probability z is between those calculated values<BR>\n" );
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document.write( "If the cost to a patient is in the lower 8% of charges for this medical service, what was the cost of this patient’s emergency room visit? (to 2<BR>\n" );
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document.write( "Find the z-value with a left-tail of 8%:<BR>\n" );
document.write( "invNorm(0.08) = -1.4051<BR>\n" );
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document.write( "Solve for \"x using x = zs+u<BR>\n" );
document.write( "x = -1.4051*92+328<BR>\n" );
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document.write( "x = $198.73<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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