# Question: Many drugs used to treat cancer are expensive BusinessWeek reported

Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost per treatment of Herceptin, a drug used to treat breast cancer (BusinessWeek, January 30, 2006). Typical treatment costs (in dollars) for Herceptin are provided by a simple random sample of 10 patients.

a. Develop a point estimate of the mean cost per treatment with Herceptin.

b. Develop a point estimate of the standard deviation of the cost per treatment with Herceptin.

a. Develop a point estimate of the mean cost per treatment with Herceptin.

b. Develop a point estimate of the standard deviation of the cost per treatment with Herceptin.

**View Solution:**## Answer to relevant Questions

A sample of 50 Fortune 500 companies (Fortune, April 14, 2003) showed 5 were based in New York, 6 in California, 2 in Minnesota, and 1 in Wisconsin. a. Develop an estimate of the proportion of Fortune 500 companies based in ...The mean annual cost of automobile insurance is $939 (CNBC, February 23, 2006). Assume that the standard deviation is σ = $245. a. What is the probability that a simple random sample of automobile insurance policies will ...Americans have become increasingly concerned about the rising cost of Medicare. In 1990, the average annual Medicare spending per enrollee was $3267; in 2003, the average annual Medicare spending per enrollee was $6883 ...A simple random sample of 50 items from a population with σ 6 resulted in a sample mean of 32. a. Provide a 90% confidence interval for the population mean. b. Provide a 95% confidence interval for the population mean. c. ...The percentage of people not covered by health care insurance in 2003 was 15.6% (Statistical Abstract of the United States, 2006). A congressional committee has been charged with conducting a sample survey to obtain more ...Post your question