Homework SourseDataset ex0407 is available here Medicares new medical plans
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 |
Solution
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]
