Question

The mean annual premium for automobile insurance in the United States is $1,491. Being from Pennsylvania, you believe automobile insurance is cheaper there and wish to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of Pennsylvania showed a mean annual premium of $1,432 with a standard deviation of s = $150. If required, enter negative values as negative numbers.

a. Develop a hypothesis test that can be used to determine whether the mean annual premium in Pennsylvania is lower than the national mean annual premium.

**b.** What is a point estimate of the difference
between the mean annual premium in Pennsylvania and the national
mean (to the nearest dollar)?

$

**c.** At *α* = .05, test for a significant
difference by completing the following.

Calculate the value of the test statistic (to 2 decimals).

The *p*-value is

- Select your answer -less than .005between .005 and .01between .01 and .025between .025 and .05between .05 and .10between .10 and .20greater than .20Item 5

What is your conclusion?

the population mean auto premium is higher/lower in Penn than the national mean.

Answer #1

The mean annual
premium for automobile insurance in the United States is $1,494.
Being from Pennsylvania, you believe automobile insurance is
cheaper there and wish to develop statistical support for your
opinion. A sample of 25 automobile insurance policies from the
state of Pennsylvania showed a mean annual premium of $1,439 with a
standard deviation of s = $150.
If required, enter
negative values as negative numbers.
a.
Develop a hypothesis test that can be used to determine whether the...

The mean annual premium for automobile insurance in the United
States is $1,501. Being from Pennsylvania, you believe automobile
insurance is cheaper there and wish to develop statistical support
for your opinion. A sample of 25 automobile insurance policies from
the state of Pennsylvania showed a mean annual premium of $1,442
with a standard deviation of s= $155.
If required, enter negative values as negative numbers.
a. Develop a hypothesis test that can be used
to determine whether the mean...

The ABC insurance INC. reports that the mean annual premium for
automobile insurance in the United States was $1608 in summer 2018.
However, you believed automobile insurance was cheaper in North
Carolina and decided to develop statistical support for your
opinion. A sample of 25 automobile insurance policies from the
state of North Carolina showed a mean annual premium of $1560 with
a standard deviation of s = $165.
a. Develop a hypothesis test that can be used to determine...

The average annual premium for automobile insurance in the
United States is $1526. A representative sample of annual premiums
for the state of Michigan is contained in the Excel Online file
below. Assume the population is approximately normal. Construct a
spreadsheet to answer the following questions.
Annual Premium
Formula Used
1936
Sample Size
#N/A
3108
2379
Point Estimate of Mean (to the whole)
#N/A
2766
2560
Standard Deviation (4 decimals)
#N/A
2902
2621
Confidence Coefficient
0.95
2598
2640
Level of...

Are nursing salaries in Tampa, Florida, lower than those in
Dallas, Texas? As reported by the Tampa Tribune, salary
data show staff nurses in Tampa earn less than staff nurses in
Dallas. Suppose that in a follow-up study of staff
nurses in Tampa and staff nurses in Dallas you obtain
the following results. Enter negative value as negative number.
Tampa
Dallas
n1=36
n2=46
x1=52,900
x2=54000
s1=5900
s2=7300
a. Formulate hypothesis so that, if the null
hypothesis is rejected, we can conclude that...

Are nursing salaries
in Tampa, Florida, lower than those in Dallas, Texas? As reported
by the Tampa Tribune, salary data show staff nurses in
Tampa earn less than staff nurses in Dallas. Suppose that in a
follow-up study of staff nurses in Tampa and staff nurses in Dallas
you obtain the following results. Enter negative value as negative
number.
Tampa
Dallas
n1 = 39
n2 = 49
x1 = 59,100
x2 = 62,100
s1 = 9,900
s2 = 11,600
a....

Periodically, Merrill
Lynch customers are asked to evaluate Merrill Lynch financial
consultants and services (2000 Merrill Lynch Client Satisfaction
Survey). Higher ratings on the client satisfaction survey indicate
better service with 7 the maximum service rating. Independent
samples of service ratings for two financial consultants are
summarized here. Consultant A has 10 years of experience, whereas
consultant B has 1 year of experience. Use = .05 and test to see
whether the consultant with more experience has the higher
population...

Question 1
Consider the following hypothesis test.
H0: 1
- 2= 0
Ha: 1
- 2≠ 0
The following results are from independent samples taken from
two populations.
Sample 1
Sample 2
n 1 = 35
n 2 = 40
x 1 = 13.6
x 2 = 10.1
s 1 = 5.5
s 2 = 8.2
a. What is the value of the test statistic (to
2 decimals)?
b. What is the degrees of freedom for the
t distribution? (Round down your answer to...

2. “In attempting to determine the population mean annual
automobile insurance premium, you draw a sample of 25 automobile
insurance policies. This sample has a sample mean annual premium of
$1440 and a sample standard deviation of s=$165.
a. Construct a 99% confidence interval for the population mean
annual automobile insurance premium.
b. Assuming everything else is fixed, what happens to the margin
of error as the sample size increases.

Health insurance benefits vary by the size of the company (the
Henry J. Kaiser Family Foundation website, June 23, 2016). The
sample data below show the number of companies providing health
insurance for small, medium, and large companies. For the purposes
of this study, small companies are companies that have fewer
than employees. Medium-sized companies
have to employees, and large companies
have or more employees. The questionnaire sent
to employees asked whether or not the employee had
health insurance and then asked the enployee to...

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