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Two-Tailed Hypothesis Test - Differences between out of pocket costs between in-network and out-of-network dental plans.

THE PROBLEM:

This week we would like to perform a two-tailed test and use the .05 significance level, estimate the p-value, and interpret it to determine differences between out of pocket costs between in-network and out-of-network dental plans. The following chart is dental members and the values are dollars out of pocket expenses per month.

Dental Member In-Network Out of Network
Tracy 52 44
Scott 41 47
Sarah 40 50
Roxy 44 46
Robert 42 47
Richelle 45 45
Rackia 51 39
Michael 49 43
Lydia 45 52
Lisa 39 55
Katrina 49 40
Glenn 50 45
Christopher 47 41
Cheryl 53 40
Brian 42 45
April 47 42
Ana 41 49

Can you help us to calculate the mean and standard deviation of the difference using the .05 significance level also estimate the p value and interpret a hypothesis with conclusion???

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Solution Summary

This week we would like to perform a two-tailed test and use the .05 significance level, estimate the p-value, and interpret it to determine differences between out of pocket costs between in-network and out-of-network dental plans. The following chart is dental members and the values are dollars out of pocket expenses per month.

$2.19