Research Problem \"copayment\" Choose a research problem associated with the com
ID: 3152903 • Letter: R
Question
Research Problem "copayment"
Choose a research problem associated with the company for which you work that looks at means, variance or proportions.
A research topic looked at within the Financial Services department at Methodist Hospital is the total number of copayments collected quarterly by each staff member throughout the year. All staff in the department are required to collect a total of 15 copays every 4 months.
Explain why the problem is important.
Collecting copayments is essential in running the hospital. The copayment adds to the amount of cash at hand which could be used to manage some expenses requiring immediate attention. Also, this money adds value towards the company’s revenue.
State the null and alternative hypotheses for the problem.
The null hypothesis is Ho: µ=15
The alternative hypothesis is as follows;
The total copays cannot be equal to the value (Ha: µ15)
The total copays can be greater than the value (Ha: µ>15)
The total copays can be less than the value (Ha: µ<15)
Describe the data needed, the statistical test you would use, and the level of significance you would require for rejection.
All employees in the financial services department would be used to carry out this test. The two-tailed test would be used because the employees could fall on either side of the curve within the distribution sample. Employees might either have collected less than, equal to or greater than 15 copays. The level of significance would be 25% or 0.025 in each tail of the distribution. The employees could either fall on the top 2.5% or bottom 2.5% of the probability distribution which would result to a p-value below 0.05.
What difficulties might you encounter in researching the problem?
Some employees might not be able to meet the quarterly number of 15 copays because they are sick on medical leave or might have taken vacation within that quarter. The patients who visit the hospital might be lower in some seasons than others which might not give staff the opportunity of getting their standard copays. Employees might be assigned to patients with $0 copays or patients who refuse to make any payments.
PLEASE COMMENT ON ABOVE RESEARCH
Explanation / Answer
State the null and alternative hypotheses for the problem.
The null hypothesis is Ho: µ=15
The alternative hypothesis is as follows;
The total copays cannot be equal to the value (Ha: µ15)
Describe the data needed, the statistical test you would use, and the level of significance you would require for rejection.
All employees in the financial services department would be used to carry out this test. The two-tailed test would be used because the employees could fall on either side of the curve within the distribution sample. Employees might either have collected less than, equal to or greater than 15 copays. The level of significance would be 25% or 0.025 in each tail of the distribution. The employees could either fall on the top 2.5% or bottom 2.5% of the probability distribution which would result to a p-value below 0.05.
What difficulties might you encounter in researching the problem?
Some employees might not be able to meet the quarterly number of 15 copays because they are sick on medical leave or might have taken vacation within that quarter. The patients who visit the hospital might be lower in some seasons than others which might not give staff the opportunity of getting their standard copays. Employees might be assigned to patients with $0 copays or patients who refuse to make any payments.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.