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In: Statistics and Probability

Please show your computation steps 3. The makers of a soft drink want to identify the...

Please show your computation steps

3. The makers of a soft drink want to identify the average age of its consumers. A sample of 25 consumers was taken. The average age in the sample was 32 years with a sample standard deviation of 5 years. Please answer the following questions: a. Construct a 95% confidence interval estimate for the mean of the consumers’ age. b. Suppose a sample of 51 was selected (with the same mean and the sample standard deviation). Construct a 95% confidence interval for the mean of the consumers’ age. 4. The ABC insurance INC. reports that the mean annual premium for automobile insurance in the United States was $1608 in summer 2018. However, you believed automobile insurance was cheaper in North Carolina and decided to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of North Carolina showed a mean annual premium of $1560 with a standard deviation of s = $165.

a. Develop a hypothesis test that can be used to determine whether the mean annual premium in North Carolina was lower than the national mean annual premium.

b. At a = .05, test for a significant difference. What is your conclusion?

4. The ABC insurance INC. reports that the mean annual premium for automobile insurance in the United States was $1608 in summer 2018. However, you believed automobile insurance was cheaper in North Carolina and decided to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of North Carolina showed a mean annual premium of $1560 with a standard deviation of s = $165.

a. Develop a hypothesis test that can be used to determine whether the mean annual premium in North Carolina was lower than the national mean annual premium.

b. At a = .05, test for a significant difference. What is your conclusion?

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orchestra answered 2 years ago
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