An insurance agent has claimed that the average age of policyholders who insure through him is less than the average for all agents, which is 35 years. A random sample of 40 policyholders who have insured through him gave an average of 32 years with a standard error of 2 years. Using a at 5 percent level of significance, ascertain whether the insurance agent's claim is justifiable.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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An insurance agent has claimed that the average age of policyholders who insure through
him is less than the average for all agents, which is 35 years. A random sample of 40 policyholders who
have insured through him gave an average of 32 years with a standard error of 2 years. Using a at 5
percent level of significance, ascertain whether the insurance agent's claim is justifiable.
Transcribed Image Text:An insurance agent has claimed that the average age of policyholders who insure through him is less than the average for all agents, which is 35 years. A random sample of 40 policyholders who have insured through him gave an average of 32 years with a standard error of 2 years. Using a at 5 percent level of significance, ascertain whether the insurance agent's claim is justifiable.
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