According to a recent study in 2014 by the RAND corporation, in the U.S. 9.3 million more
people have gained health care coverage over the previous year with an error of +3.5 million
people based on the statistical study.
1.
This type of error in a study is often referred to as a margin of error.
a. What is the least number of people that have galned coverage based on the study?
b. What is the most number of people that have gained coverage based on the study?
2. A recent study in 2013 conducted in Canada showed that house values were reduced
in value by an average amount of 15% with a margin of error of $4.9% because the
previous owner smoked in the house.
a. What is the maximum percentage the house value average could have been reduced?
e
b, The median house price in a Ontario Canada was equivalent to $244,000 US dollars. What
might be the worst possible average price for home owners that have smokers in their
house (i.e. use the maximum possible reduced value percentage from part "a")?
3. A study conducted at a school showed that the batteries used by calculators lasted an
average of 101 days with a margin of error of +9 %.
a. What is the minimum average number of days a teacher can expect to have the
batteries last in her classroom?
b. There are roughly 279 days from the first day of school until the last day of school, The
teacher has 24 TI-84 calculators and each one requires 4 triple A batteries. If the teacher
can buy triple A batteries whole sale at 52 cents a battery, how much do you think she will
need to spend at most on batteries for calculators over the year?