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)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 8PPS

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