During a period of one month, a random sample of 27 approved life insurance policies is selected, and the total processing time, in days, is recorded as shown in the data table below. 1. In the past, the mean processing time was 41 days. At the 0.05 level of significance, is there evidence that the mean processing time has changed from 41 days? State the null and alternative hypotheses. H0: H1: Determine the test statistic. The test statistic is ___. the t critical is t.α/2, n-1... if the t stat is less than t critical then reject ho State the conclusion.
During a period of one month, a random sample of 27 approved life insurance policies is selected, and the total processing time, in days, is recorded as shown in the data table below. 1. In the past, the mean processing time was 41 days. At the 0.05 level of significance, is there evidence that the mean processing time has changed from 41 days? State the null and alternative hypotheses. H0: H1: Determine the test statistic. The test statistic is ___. the t critical is t.α/2, n-1... if the t stat is less than t critical then reject ho State the conclusion.
MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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During a period of one month, a random sample of 27 approved life insurance policies is selected, and the total processing time, in days, is recorded as shown in the data table below.
1. In the past, the mean processing time was 41 days. At the 0.05 level of significance, is there evidence that the mean processing time has changed from 41 days?
State the null and alternative hypotheses.
H0:
H1:
Determine the test statistic.
The test statistic is ___.
the t critical is t.α/2, n-1... if the t stat is less than t critical then reject ho
State the conclusion.
__A__ H0. There is __B__ evidence to conclude that the mean processing time has changed from 41 days.
A: Reject or do not reject
B: insufficient or sufficient
2. What assumption about the population distribution is needed in order to conduct the t test in (a)?
A. The population distribution is approximately normal.
3. Do you think that the assumption needed in order to conduct the t test in (a) is valid?
B. Yes, because the normal probability plot is a straight line. The population distribution is approximately uniform.
C. No, because the normal probability plot is a straight line. The population distribution is not approximately uniform.
D. No, because the normal probability plot is not a straight line. The population distribution is not approximately norm
A. Yes, because the normal probability plot is a straight line. The population distribution is approximately normal.
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