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In: Statistics and Probability

A new actuarial test (Test A) was developed as a possible replacement for an old actuarial...

A new actuarial test (Test A) was developed as a possible replacement for an old actuarial test (Test B). An actuary claimed that the mean time to complete the new test A was more than the mean time to complete an old test B. The summary data for completion time (in minutes) are as follows. Test A : n=9, X bar=160 minutes, S2=180 minutes Test B : n=10 X bar=150 minutes, S2=30 minutes (a) At α=10%, use the Classical approach to test the actuary’s claim. (b) Using P-value approach to conclude it.

Full step by step solution please, thank you

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Expert Solution

Final conclusion: We can support the claim that the new test A was more than the mean time to complete an old test B.

orchestra answered 1 year ago
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