2) A small local insurance company is looking to see if they have reached their 2020 goal of more than $30.20 in savings per family. In order to see if they met their goal, they randomly surveyed 50 of their over 1000 customers and found that they had saved an average of $32.12 with a standard deviation of $4.83. Is this strong evidence that they have attained their savings goal? a) Check the appropriate conditions to perform this test, state whether it has been satisfied or not. b) Regardless of your answers to part (a), test an appropriate hypothesis and state your conclusion. Use a significance level of 0.05. Use your calculator to conduct this test. Do not do the calculations by hand.
2) A small local insurance company is looking to see if they have reached their 2020 goal of more than
$30.20 in savings per family. In order to see if they met their goal, they randomly surveyed 50 of their
over 1000 customers and found that they had saved an average of $32.12 with a standard deviation of
$4.83. Is this strong evidence that they have attained their savings goal?
a) Check the appropriate conditions to perform this test, state whether it has been satisfied or not.
b) Regardless of your answers to part (a), test an appropriate hypothesis and state your conclusion.
Use a significance level of 0.05. Use your calculator to conduct this test. Do not do the calculations
by hand.
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