Dataset ex0407 is available here. Medicare\'s new medical plans offer a wide ran

Question

Dataset ex0407 is available here.
Medicare's new medical plans offer a wide range of variations and choices for seniors when picking a drug plan (San Luis Obispo Tribune, November 25, 2005). The monthly cost for a stand-alone drug plan can vary from a low of $1.87 in Montana, Wyoming, North Dakota, South Dakota, Nebraska, Minnesota and Iowa to a high of $104.89. Here are the lowest and highest monthly premiums for stand-alone Medicare drug plans for each state in the table.

(c) What is the mean of the minimum cost of all states beginning with the letter "M"? (Round the answer to four decimal places.)
$ =

State $ Low $ High State $ Low $ High State $ Low $ High Alabama 14.08 69.98 Maryland 6.48 68.91 South Carolina 16.57 69.72 Alaska 20.05 61.93 Massachusetts 7.36 65.58 South Dakota 1.87 99.90 Arizona 6.14 64.86 Michigan 13.75 65.69 Tennessee 14.08 69.98 Arkansas 10.31 67.98 Minnesota 1.87 99.90 Texas 10.31 68.41 California 5.41 66.08 Mississippi 11.60 70.59 Utah 6.33 68.88 Colorado 8.62 65.88 Missouri 10.27 68.26 Vermont 7.32 65.58 Connecticut 7.32 65.58 Montana 1.87 99.90 Virginia 8.81 68.61 Delaware 6.44 68.91 Nebraska 1.87 99.90 Washington 6.93 64.99 District of Columbia 6.44 68.91 Nevada 6.42 64.63 West Virginia 10.14 68.61 Florida 10.35 104.89 New Hampshire 19.60 65.39 Wisconsin 11.42 63.23 Georgia 17.91 73.17 New Jersey 4.43 66.53 Wyoming 1.87 99.90 Hawaii 17.18 64.43 New Mexico 10.65 62.38 Idaho 6.33 68.88 New York 4.10 85.02 Illinois 13.32 65.04 North Carolina 13.27 65.03 Indiana 12.30 70.72 North Dakota 1.87 99.90 Iowa 1.87 99.90 Ohio 14.43 68.05 Kansas 9.48 67.88 Oklahoma 10.07 70.79 Kentucky 12.30 70.72 Oregon 6.93 64.99 Louisiana 17.06 70.59 Pennsylvania 10.14 68.61 Maine 19.40 65.39 Rhode Island 7.32 65.58

Explanation / Answer

We only consider Maine up to Montana here,and we only look the the "low" column.

Getting the mean, X,          
          
X = Sum(x) / n          

Sum(x) =    72.6      
          
As n = 8,

Thus,          
X =    9.0750 [ANSWER]

Related Questions

Navigate

• Browse (All)
• Browse D
• Subjects

---

---

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