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The average U.S. household has $235,600 in life insurance. A local insurance agent would like to see how households in his city compare to the national average, and selects a simple random sample of 30 households from the city. For households in the sample, the average amount of life insurance is }x 5 $245,800, with s 5 $25,500. a. Using a nondirectional hypothesis test and a level of significance of your choice, what conclusion would be reached?b. For the significance level used in part (a), construct the appropriate confidence interval and verify the conclusion reached in part (a)

The average U.S. household has $235,600 in life insurance. A local insurance agent would like to see how households in his city compare to the national average, and selects a simple random sample of 30 households from the city. For households in the sample, the average amount of life insurance is }x 5 $245,800, with s 5 $25,500. a. Using a nondirectional hypothesis test and a level of significance of your choice, what conclusion would be reached?b. For the significance level used in part (a), construct the appropriate confidence interval and verify the conclusion reached in part (a)

MATLAB: An Introduction with Applications
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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The average U.S. household has $235,600 in life 
insurance. A local insurance agent would like to see how 
households in his city compare to the national average, 
and selects a simple random sample of 30 households 
from the city. For households in the sample, the average 
amount of life insurance is }x 5 $245,800, with 
s 5 $25,500.

a. Using a nondirectional hypothesis test and a level of 
significance of your choice, what conclusion would 
be reached?
b. For the significance level used in part (a), construct 
the appropriate confidence interval and verify the 
conclusion reached in part (a)

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