The mean annual premium for automobile insurance in the United States is $1503 (Insure.com website, March 6, 2014). Belng from Pennsylvania, you believe automobile insurance is cheaper there and wish to develop statistical support for your opinion. A sample of 25 automobile Insurance policies from the state of Pennsylvania showed a mean annual premium of $1440 with a standard deviation of s = $165 If required, enter negative values as negative numbers. a. Develop a hypothesis test that can be used to determine whether the mean annual premium in Pennsylvania is lower than the national mean annual premium. H o: P - Select your answer Ha: - Select your answer b. What is a point estimate of the difference between the mean annual premium in Pennsylvania and the national mean (to the nearest dollar)? %24 c. At a = .05, test for a significant difference by completing the following. Calculate the value of the test statistic (to 2 decimals). The p-value is -Select your answer - v What is your conclusion? - Select your answer -

The mean annual premium for automobile insurance in the United States is $1503 (Insure.com website, March 6, 2014). Belng from Pennsylvania, you believe automobile insurance is cheaper there and wish to develop statistical support for your opinion. A sample of 25 automobile Insurance policies from the state of Pennsylvania showed a mean annual premium of $1440 with a standard deviation of s = $165 If required, enter negative values as negative numbers. a. Develop a hypothesis test that can be used to determine whether the mean annual premium in Pennsylvania is lower than the national mean annual premium. H o: P - Select your answer Ha: - Select your answer b. What is a point estimate of the difference between the mean annual premium in Pennsylvania and the national mean (to the nearest dollar)? %24 c. At a = .05, test for a significant difference by completing the following. Calculate the value of the test statistic (to 2 decimals). The p-value is -Select your answer - v What is your conclusion? - Select your answer -

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Description: The mean annual premium for automobile insurance in the United States is $1503 (Insure.com website, March 6, 2014). Being from Pennsylvania, you believe automobile insurance is cheaper there andwish to develop statistical support for your opinion. A

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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