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Chapter 1: Q. 45 (page 53)

Insurance companies are interested in the mean health costs each year of their clients, so that they can determine the costs of health insurance.

Short Answer

Expert verified

a. The population is made up of insurance company clients.

b. A sample is a collection of clients.

c. The average expense of the clients' health.

d. The statistic is the sample's mean health costs.

e. The variable is the, X= the health costs of one client..

f. values for X , such as 34,9,82, and so on..

Step by step solution

01

Introduction

An agreement with a corporation in which you pay them a set amount of money on a monthly basis and they commit to cover your expenses if you die or become ill, or if you lose or damage anything.

02

Explanation of a

According to the information presented, the population will be insurance company clients who purchase health insurance.

03

Explanation of b

Based on the information supplied, this data will be sampled from a random sample of insurance company clients who have health insurance.

04

Explanation of c

Based on the information supplied, the population mean health expenses of health insurance company clients will be the data's parameter.

05

Explanation of d

Based on the information supplied, the statistic for this data will be the sample mean health expenses of health insurance company clients.

06

Explanation of e

According to the information supplied, the variable of this data will be health costs per customer per year.

07

Explanation of f

The data will be the variable's value, based on the information supplied.

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