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The president of American insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies. He picks a sample of 15 families some with only the single insured driver, others with many teenage drivers, and pays each family the stipend to contact the two companies and ask for the price quote. To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized. The sample information is reported below. At 0.10 significance level, can we conclude that there is the difference in the amounts quoted?

Family Progressive   Car Insurance GEICO Mutual Insurance
Becker $2,090 $1,610
Berry 1,683 1,247
Cobb 1,402 2,327
Debuck 1,830 1,367
DuBrul 930 1,461
Eckroate 697 1,789
Oennan 1,741 1,621
Glasson 1,129 1,914
King 1,018 1,956
Kucic 1,881 1,777
Meredith 1,571 1,375
Obeid 874 1,527
Poice 1,579 1,767
Phillips 1,677 1,636
Tresize 860 1,188

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M921084

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