A large automobile insurance company selected samples of single and married male policyholders and recorded the number who made an insurance claim over the preceding three-year period. Single Policyholders Married Policyholders nį = 412 n2 = 778 Number making claims = 75 Number making claims = 111 a. Use a = 0.05. Test to determine whether the claim rates differ between single and married male policyholders. z-value (to 2 decimals) p-value (to 4 decimals) We cannot conclude that there is the difference between claim rates. b. Provide a 95% confidence interval (to 4 decimals) for the difference between the proportions for the two populations. Enter negative answer as negative number.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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