Question

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.
4,364 5,595 2,724 4,936 4,475
4,789 6,453 4,122 4,245 3,804

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 (to 1 decimal).

Answer 1

Mean is 4550.7 (add up the numbers and divide by 10)

I'll let you determine standard deviation. Use a calculator, or if you do it by hand, use a formula to calculate the standard deviation.

Answer 2

2.5 that is the deviation