You may need to use the appropriate technology to answer this question.The Insure.com website reports that the mean annual premium for automobile insurance in the United States was $1,503 in March 2014. Being from Pennsylvania at that time, youbelieved automobile insurance was cheaper there and decided to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state ofPennsylvania showed a mean annual premium of $1,435 with a standard deviation of s= $165.(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.HoM 1,503H:s 1,503Ho: <1,503H21,503How 1,503H₂> 1,503Ho-1,503Ma 2,500,He #1,503H₂1,503(b) What is a point estimate in dollars of the difference between the mean annual premium in Pennsylvania and the national mean? (Use the mean annual premium inPennsylvania minus the national mean.)(c) At a-0.05, test for a significant difference.Find the value of the test statistic. (Round your answer to three decimal places)(No Response)Find the p-value. (Round your answer to four decimal places)p-value (No Response) (c) At a = 0.05, test for a significant difference.Find the value of the test statistic. (Round your answer to three decimal places.)(No Response)Find the p-value. (Round your answer to four decimal places.)p-value = (No Response)State your conclusion.Do not reject Ho. We can conclude that the population mean automobile premium in Pennsylvania is lower than the national mean.Reject Ho. We can conclude that the population mean automobile premium in Pennsylvania is lower than the national mean.Do not reject Ho- We cannot conclude that the population mean automobile premium in Pennsylvania is lower than the national mean.Reject Ho: We cannot conclude that the population mean automobile premium in Pennsylvania is lower than the national mean.

Given that Sample size n =25 Sample mean=1435 Standard deviation =165

Answered: You may need to use the appropriate…

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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