A state health web site provides information on the cost-to-charge ratio (the pe

Question

A state health web site provides information on the cost-to-charge ratio (the percentage of billed charges that are actual costs to the hospital). The cost-to-charge ratios for both inpatient and outpatient care in 2002 for a sample of six hospitals of that state follow. (Use a statistical computer package to calculate the P-value. Use inpatient outpatient. Round your test statistic to two decimal places and your P-value to three decimal places.)

Explanation / Answer

Data Hypothesized Mean Difference 0 Level of significance 0.05 Intermediate Calculations Sample Size 6 DBar 20.6667 Degrees of Freedom 5 SD 19.5004 Standard Error 7.9610 t Test Statistic 2.5960 Two-Tail Test Lower Critical Value -2.5706 Upper Critical Value 2.5706 p-Value 0.0485 Reject the null hypothesis

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