FINANCE 6361-The management of Recover Fast Hospital (RFH) claims

Question
Question 3

The management of Recover Fast Hospital (RFH) claims that the average length of

stay in their hospital after a major surgery is less than the average length of stay at

General Hospital (GH). The following data have been accumulated to test their

claim.

RFH

GH

SAMPLE SIZE

45

58

SAMPLE MEAN IN DAYS

4.6

4.9

POPULATION STANDARD DEVIATION

0.5

0.6

a. Formulate the hypotheses.

b. Compute the test statistic.

c. Using the p-value approach, test to see if the average length of stay in RFH is

significantly less than the average length of stay in GH. Let alpha = 0.05.

find the cost of your paper