Single Policyholders n₁ = 900 number making claims = 153 Ho: P₁ P₂ = 0 H₂₁: P₁ P₂ = 0 O Ho: P₁ P₂ > 0 HP₁P₂0 Married Policyholders (a) Use a = 0.05. Test to determine whether the claim rates differ between single and married male policyholders. State the null and alternative hypotheses. (Let p₁ = claim rate for single male policyholders and P₂ = claim rate for married male policy holders.) O Ho: P₁ P₂ So H: P₁ P₂ > 0 Ho: P₁ P₂ = 0 H₂: P₁ P₂ #0 Ho: P₁ P₂ 20 n₂ = 400 number making claims 32
Single Policyholders n₁ = 900 number making claims = 153 Ho: P₁ P₂ = 0 H₂₁: P₁ P₂ = 0 O Ho: P₁ P₂ > 0 HP₁P₂0 Married Policyholders (a) Use a = 0.05. Test to determine whether the claim rates differ between single and married male policyholders. State the null and alternative hypotheses. (Let p₁ = claim rate for single male policyholders and P₂ = claim rate for married male policy holders.) O Ho: P₁ P₂ So H: P₁ P₂ > 0 Ho: P₁ P₂ = 0 H₂: P₁ P₂ #0 Ho: P₁ P₂ 20 n₂ = 400 number making claims 32
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
I need help with parts a AND b (towards the bottom of the page), please and thank you
Transcribed Image Text:**Study on Insurance Claim Rates: A Comparative Analysis of Single and Married Male Policyholders**
A large automobile insurance company conducted a study by selecting samples of single and married male policyholders. The study focused on the number who made an insurance claim over a three-year period. The findings are summarized in the table below:
| | Single Policyholders | Married Policyholders |
|----------------|----------------------|-----------------------|
| Sample Size | \( n_1 = 900 \) | \( n_2 = 400 \) |
| Made Claims | 153 | 32 |
### Hypothesis Testing
**Goal:** Determine if there is a significant difference in claim rates between single and married male policyholders using a significance level of \( \alpha = 0.05 \).
#### Null and Alternative Hypotheses
Let \( p_1 \) represent the claim rate for single male policyholders and \( p_2 \) for married male policyholders. The hypotheses are stated as follows:
- Null Hypothesis \( (H_0): p_1 - p_2 = 0 \)
- Alternative Hypothesis \( (H_a): p_1 - p_2 \neq 0 \)
The chosen alternative hypothesis is highlighted with a check mark in the list provided.
#### Statistical Testing
1. **Test Statistic:**
The value of the test statistic needs to be entered and rounded to two decimal places.
2. **P-value:**
The p-value is required to be rounded to four decimal places.
3. **Conclusion:**
The correct conclusion is to reject \( H_0 \), indicating that there is a statistically significant difference in claim rates between single and married male policyholders.
### Confidence Interval
**95% Confidence Interval:** Calculate the interval for the difference between the proportions for the two populations. The responses need to be rounded to four decimal places and provided for both lower and upper bounds.
This study provides vital insight into the behavioral differences in insurance claims between different demographics, aiding in more personalized policy development.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 6 images
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