Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost

Question

Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost per treatment of Herceptin, a drug used to treat breast cancer (BusinessWeek, January 30, 2006). Typical treatment costs (in dollars) for Herceptin are provided by a simple random sample of 10 patients. 4,376 5,561 2,730 4,927 4,512 4,795 6,432 4,139 4,248 3,811 Develop a point estimate of the mean cost per treatment with Herceptin. Develop a point estimate of the standard deviation of the cost per treatment with Herceptin (to 1 decimal).

Explanation / Answer

a) from above point estimate of mean =4553.1

b) point estimate of std deviation =(8916468.9/9)1/2 =995.3

X (X-mean)^2 4376 31364.41 5561 1015862.41 2730 3323693.61 4927 139801.21 4512 1689.21 4795 58515.61 6432 3530265.21 4139 171478.81 4248 93086.01 3811 550712.41 Total 45531 8916468.9 mean=total/10 4553.1

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.