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The document provides an overview of a project containing multiple questions about analyzing health care costs, employee job satisfaction ratings, and developing a regression model. It asks to: 1) Calculate probabilities and costs for emergency room visits 2) Create a scatter plot of employee job satisfaction factors and develop a regression equation to predict satisfaction from factors chosen 3) Test the regression for significance and determine if it is a good fit 4) Report the sample correlation coefficient

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ajay Narwal
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28 views3 pages

Project Overview

The document provides an overview of a project containing multiple questions about analyzing health care costs, employee job satisfaction ratings, and developing a regression model. It asks to: 1) Calculate probabilities and costs for emergency room visits 2) Create a scatter plot of employee job satisfaction factors and develop a regression equation to predict satisfaction from factors chosen 3) Test the regression for significance and determine if it is a good fit 4) Report the sample correlation coefficient

Uploaded by

ajay Narwal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Project Overview

The project contains the following questions. Apply the concepts and methods that
you learnt in the course to answer the questions.

● 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.
○ What is the probability that the cost will be between $300 and $400?
○ 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?
● The Australian Public Service Commission’s State of the Service Report 2002–2003
re-
ported job satisfaction ratings for employees. One of the survey questions asked
employees to choose the five most important workplace factors (from a list of factors)
that most affected how satisfied they were with their job. Respondents were then
asked to indicate their level of satisfaction with their top five factors. The following
data shows the percentage of employees who nominated the factor in their top five,
and a corresponding satisfaction rating measured using the percentage of employees
who nominated the factor in the top five and who were “very satisfied” or “satisfied”
with the factor in their current workplace.

Workplace Factor Top five (%) Satisfaction Rating

Appropriate workload 30 49

Chance to be creative/innovative 38 64

Chance to make a useful contribution to society 40 67

Duties/expectations made clear 40 69

Flexible working arrangements 55 86

Good working relationships 60 85


Interesting work provided 48 74

Opportunities for career development 33 43

Opportunities to develop my skills 46 66

Opportunities to utilize my skills 50 70

Regular feedback/recognition for effort 42 53

Salary 47 62

Seeing tangible results from my work 42 69

● Develop a scatter diagram with the Top Five (%) on the horizontal axis and the
Satisfaction Rating (%) on the vertical axis.
● What does the scatter diagram developed in part 1 indicate about the relationship
between the two variables?
● Develop the estimated regression equation that could be used to predict the
Satisfaction Rating (%) given the Top Five (%).
● Test for a significant relationship at the .05 level of significance.
● Did the estimated regression equation provide a good fit? Explain.
● What is the value of the sample correlation coefficient?

1.
3. y = mx + c (y =1.875 - 7.25)

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