Hypothesis test (One-Sample)Sample SizeSample MeanSample Std DevHypothesized ValueLevel of significanceStandard ErrorTest StatisticDegrees of Freedom(Check if you need a one-tail or two tail test)p-value (lower-tail)p-value (upper-tail)p-value (two-tail)Critical Value (lower-tail)Critical Value upper-tail)Critical Value (two-tail) Use absolute value if test stat is positiveT Dist (Summary Statistic)#DIV/0!#DIV/0!#DIV/0!#DIV/0!#DIV/0!#NUM!#NUM!#NUM!13650.05-1 Automobile Insurance Premiums. Insure.com reports that the mean annual premium forautomobile insurance in the United States was $1365 in 2018. Being from Pennsylvania, you believeautomobile insurance is cheaper there and wish to develop statistical support for your opinion. Asample of 25 automobile insurance policies from the state of Pennsylvania showed a mean annualpremium of $1302 with a standard deviation of s = $165.a. Develop a hypothesis test that can be used to determine whether the mean annual premium inPennsylvania is lower than the national mean annual premium.b. What is a point estimate of the difference between the mean annual premium in Pennsylvaniaand the national mean?c. At a = .05, test for a significant difference. What is your conclusion?

Given Information: Hypothesized value of population mean is 1365 Sample size n=25 Sample mean…

Answered: Automobile Insurance Premiums.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A company has rolled out a new process for sales people to use. They were able to go back into the company records and pull all sales data from before the roll out. Each sales person when they closed a sale had an average contract of $108 with a standard deviation of $12. During the first month after the roll out, a sample of sales showed the average contract was $116. Which statistical test could be used to see if this was a significant increase in contract size?
In your work as a biomedical engineer, you need to better understand the distribution of adults' blood pressures. Specifically, you are interested in systolic blood pressure, which is a measure of pressure within arteries when a heart beats; this is the first number in a blood pressure reading. In healthy adults, systolic blood pressure has a normal distribution with a mean of 112 mm Hg and standard deviation of 10 mmHg. Before you collect sample data, you want to predict the range in which you expect almost all of the data to fall. Which of the following represents the interval that will likely contain almost all (~99.7%) of the sample measurements of healthy adult systolic blood pressure? A) (102 mm Hg, 122 mm Hg) B) (92 mm Hg, 132 mm Hg) C) (82 mm Hg, 142 mm Hg) D) (72 mm Hg, 152 mm Hg)
You are applying for a job at two companies. Company A offers starting salaries with u = $33,000 and o = $1,000. Company B offers starting salaries with u = $33,000 and o = $3,000. From which company are you more likely to get an offer of $35,000 or more? Choose the correct answer below. O A. Company A, because data values that lie more than two standard deviations from the mean are considered unusual. O B. No difference, because data values that lie more than three standard deviations from the mean are considered very unusual. O C. Company B, because data values that lie within one standard deviation from the mean are not considered unusual.
According to the U.S. Census, the average adult woman is the United States is 65 inches tall and the standard deviation is 3 inches. If Zsike is 67 inches tall, what is her z-score?
According to a health foundation survey from 2018 and 2016, the average annual premiums for employer-sponsored health insurance for family coverage was $16,834 in 2018 and $15,745 in 2016. Suppose the survey for 2018, was based on 250 employees who had employer-sponsored health insurance and the survey for 2016 was based on 200 employees who had employer-sponsored health insurance. Assume the population standard deviation for 2018 and 2016 were $2160 and $1990; respectively. Find a 97% confidence interval for the mean difference. (Round your answer to 1 decimal place.)Lower limit = Upper limit =
A hospital president claims that the average Salary of registered nurses at her hospital is more than $57,000. You test this claim by surveying 37 registered nurses at this hospital and find they have a mean salary of $57,425. Assume the population standard deviation is $1750 at the 0.10 level of significance is there enough evidence to support the claim of the hospital president?
Choose the correct option and explain.
77% of U.S. adults think that political correctness is a problem in America today. You randomly select six U.S. adults and ask them whether they think that political correctness is a problem in America today. The random variable represents the number of U.S. adults who think that political correctness is a problem in America today. Answer the questions below. What is the mean? What is the variance? what is the standard deviation? Interpret the results
You may need to use the appropriate technology to answer this question. Data were collected on the top 1,000 financial advisers. Company A had 239 people on the list and another company, Company B, had 121 people on the list. A sample of 16 of the advisers from Company A and 10 of the advisers from Company B showed that the advisers managed many very large accounts with a large variance in the total amount of funds managed. The standard deviation of the amount managed by advisers from Company A was s₁ = $583 million. The standard deviation of the amount managed by advisers from Company B was s₂ = $484 million. Conduct a hypothesis test at a = 0.10 to determine if there is a significant difference in the population variances for the amounts managed by the two companies. What is your conclusion about the variability in the amount of funds managed by advisers from the two firms? State the null and alternative hypotheses. 2 2 H₂:0 2 Find the value of the test statistic. (Round your answer…
It is known that average house prices today is $371,040 higher compared to 10 years ago and median in the current time also $382,000 higher than house prices 10 years ago. Provide an interpretation of the change of mean and median based on the information above. Compare and contrast these values and comment on the distribution of the increases in house prices.
As reported in Runner's World magazine, the times of the finishers in the New York City 10- km run are normally distributed with mean 61 minutes and standard deviation 9 minutes. The 75th percentile for the finishing times is 67 minutes. What is the interpretation of this value?
According to the Vivino website, suppose the mean price for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is $32.48. A New England-based lifestyle magazine wants to determine if red wines of the same quality are less expensive in Providence, and it has collected prices for 64 randomly selected red wines of similar quality from wine stores throughout Providence. The mean and standard deviation for this sample are $30.15 and $12, respectively. (a) Develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean price in Providence for a bottle of red wine that scores 4.0 or higher on the Vivino Rating System is less than the population mean of $32.48. (Enter != for # as needed.) Ho: H: (b) Using the sample from the 64 bottles, what is the test statistic? (Round your answer to three decimal places.) Using the sample from the 64 bottles, what is the p-value? (Round your answer to four decimal places.) p-value =…

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