Question
In: Statistics and Probability
A life insurance salesperson claims the average worker in the city of Winnipeg has no more...
A life insurance salesperson claims the average worker in the
city of Winnipeg has no more than $25,000 of personal life
insurance. To test this claim, you randomly sample 100 workers in
Winnipeg. You find that this sample of workers averages $26,250 of
personal life insurance. The population standard deviation is
$12,000.
Determine whether the test shows enough evidence to reject the null
hypothesis posed by the salesperson. Assume α = 0.05.
The value of the test statistic is?
Solutions
orchestra answered 1 year agoRelated Solutions
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Explain, in the context of this question, what is meant by a...
The life insurance industry maintains that the average worker in Saskatoon has no more than $25,000...
The life insurance industry maintains that the average worker
in Saskatoon has no more than $25,000 of personal life
insurance. You believe this to be too
low. You sample 100 workers in Saskatoon at random and
find the sample average to be $26,650 of personal life
insurance. The population standard deviation is known to
be $12,000. Use α=0.05 throughout.
(6) Test your belief using a significance level of 5%.
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On February 1, a salesperson for Metropolitan Life Insurance met with the Drakes at their home....
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The number of successful claims on life insurance policies for an insurance company has been determined...
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How to solve this problem without Excel?
Thanks
when is life insurance proceeds subject to creditor claims
when is life insurance proceeds subject to creditor
claims
The average claims to an insurance company is 3 claims per day. a. Find what is...
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demands.
b. Determine the probability that in a month, at least 15 days and at most 22 days, the number of
demands this between 3 and 6 demands.
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