12. (The average U.S. household has $235,600 in life insurance.
A local insurance agent would like to see how households in his
city compare to the national average, and selects a simple random
sample of 30 households from the city. For households in the
sample, the average amount of life insurance is x¯ = $245, 800,
with s = $25, 500.
(a) Using a nondirectional hypothesis test and a level of
significance of 95%, what conclusion would be reached?
(b)...