Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

There is significant difference between two amounts quoted.

The president of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies. He selects a sample of 15 families, some with only a single insured driver, others with several teenage drivers, and pays each family a stipend to contact the two companies and ask for a price quote. To create the data comparable, certain features, such as the deductible amount and limits of liability, are standardized. The sample information is reported below. At the .10 significance level, can we conclude that there is a difference in the amounts quoted?

 

 

progressive

GEICO

Family

Car Insurance

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

German

1,741

1,621

Glasson

1,129

1,914

King

1,018

1,956

Kucic

1,881

1,772

Meredith

1,571

1,375

Obeid

874

1,527

Price

1,579

1,767

Phillips

1,577

1,636

Tresize

860

1,188

 

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922170

Have any Question? 


Related Questions in Statistics and Probability

An airline company is considering a new policy of booking

An airline company is considering a new policy of booking as many as 158 persons on an airplane that can seat only 160. (Past studies have revealed that only 90% of the booked passengers actually arrive for the flight.) ...

In juliuss list of preferences agrippina appears first

In Julius's list of preferences, Agrippina appears first, Messalina appears second, and Cleopatra appears third. Suppose there is a stable matching under which Julius is matched to Agrippina, and that there is a stable m ...

A shoe company checks police records on 1200 randomly

A shoe company checks police records on 1200 randomly selected auto accidents and notes that teenagers were at the wheel in 180 of them. Construct a 90% confidence interval estimate of the proportion of shoe accidents th ...

Assignment- sampling distributions and estimation

Assignment- Sampling Distributions and Estimation; Hypothesis Testing 1. In a simple random sample from a population of several hundred that's approximately normally distributed, the following data values were collected. ...

A population of lawnmowers life expectancy is described

A population of lawnmowers' life expectancy is described with a Weibull distribution, where α=1 and β=15. Determine 1× (once) and 2× (twice) the expected mean lifes for the population, as well as their corresponding cumu ...

How did the supreme court aid the development of a market

How did the Supreme Court aid the development of a market economy?

1 consider a test of h0 mu le 100 versus h1 mu gt 100

1. Consider a test of H0 : μ ≤ 100 versus H1 : μ > 100. Suppose that a sample of size 20 has a sample mean of X = 105. Determine the p-value of this outcome if the population standard deviation is known to equal  (a) 5; ...

A parcel of land purchased by clean energy inc is estimated

A parcel of land purchased by Clean Energy, Inc. is estimated to contain 15.25 million tons of anthracite coal. The purchase price was $10,850,000, startup costs were $3,411,000, and the residual value is $1,464,000. If ...

A shipment of 8 computers contains 2 with defects find the

A shipment of 8 computers contains 2 with defects. find the probability that a sample of size 4, drawn from the 8, will not contain a defective computer. What is the probability that a sample of 4 of the 8 computers will ...

Satistics project come up with a survey pick a population

Statistics Project: Come up with a survey: Pick a population Come up with 4 variablesà 2 Quantitative & 2 Qualitative (make up numbers) Pick 50 data points for each variable, make a table on excel, use a scatter plot gra ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro