Quantitative Analysis For Management Decisions
Question 1. The following data are claims(in $millions) for Blue cross Blue shield benefits benefits for nine states, along with the surplus(in $millions) that the company had in assets in those states.
State Claims Surplus
Alabama 1425 277
Colorado 273 100
Florida 915 120
Illinois 1687 259
Maine 234 40
Montana 142 25
North Dakota 259 57
Oklahoma 258 31
Texas 894 141
Use the data to compute a correlation coefficient, to determine the correlation between claims and surplus. Interpret the results accordingly explain all variables under study along with their significance. Further explain entire concept of Correlation using 5 real life situations which explains the concept of correlation in detail. Make use of appropriate reference and enrich your literature review appropriately.
Question 2. A specialist in hospital administration stated that no. of employees in a hospital can be estimated by counting the no. of beds in the hospital .A health care researcher decided to develop a regression model in an attempt to predict the number of employees of a hospital by the no. of beds . 12 hospitals were surveyed and obtained following data.
No of Beds. Employees
After obtaining the regression model. Interpret it accordingly based on your understanding .Explain the concept in detail taking into consideration present pandemic scenario. Support your answer with good literature review.
Question 3. A survey of CPAs across the United States found that he average net income for sole proprietor CPAs is $74914. An accounting researcher wants to test this amount figure by taking a random sample of 112 with an average income of $78695 sole proprietor accountants in the United states to determine whether the net income figure changed. Assume the population standard deviation of net incomes of sole proprietor CPAs is $14,530. Establish appropriate hypothesis and using appropriate test determine the relevance of the hypothesis followed by appropriate business decision.
Attachment:- Management Decisions.rar