A business manager in a health-care facility has been
investigating the cost of maintaining patients within its plan. The
health care facility, in its advertising campaigns, has claimed
that the cost of patient care runs about $1,225 per month. A sample
of 15 cases for the last month reported the following:
$1,168.00
$1,225.00
$1,195.00
$1,054.00
$1,165.00
$1,345.00
$1,240.00
$1,178.00
$1,125.00
$1,276.00
$1,423.00
$1,445.00
$1,345.00
$1,175.00
$1,435.00
(a) Determine and interpret the Mean, Median, and the Standard
Deviation.
(b) Assuming a level of significance of 0.05, check the validity
of the health care facility's claim.