An insurance agent randomly selected 10 of his clients and checked online price quotes for their policies. His summaries of the data areshown, where Diff is Local−Online. Test an appropriate hypothesis to see if there is evidence that drivers might save money by switching to an online agent. Use α=0.05. Find t-test and P-value. Variable Count Mean StdDev Local 10 971.000 374.343 Online 10 911.400 319.787 Diff 10 59.6000 176.841
An insurance agent randomly selected 10 of his clients and checked online price quotes for their policies. His summaries of the data areshown, where Diff is Local−Online. Test an appropriate hypothesis to see if there is evidence that drivers might save money by switching to an online agent. Use α=0.05. Find t-test and P-value. Variable Count Mean StdDev Local 10 971.000 374.343 Online 10 911.400 319.787 Diff 10 59.6000 176.841
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
An insurance agent randomly selected 10 of his clients and checked online price quotes for their policies. His summaries of the data areshown, where Diff is Local−Online. Test an appropriate hypothesis to see if there is evidence that drivers might save money by switching to an online agent. Use α=0.05. |
Find t-test and P-value.
Variable
|
Count
|
Mean
|
StdDev
|
|
---|---|---|---|---|
Local
|
10
|
971.000
|
374.343
|
|
Online
|
10
|
911.400
|
319.787
|
|
Diff
|
10
|
59.6000
|
176.841
|
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman