American insurance-two- sample tests of hypothesis

Reference no: EM13109937

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 make 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?

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

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

Reference no: EM13109937

Questions Cloud

Calculate total revenue : Groovy Juice Mixers, Inc. : Groovy Juice Mixers, Inc. mixes specialty drinks out of apple, guava, and papaya juices. Currently it has 1100, 600, and 500 gallons of each of these kinds of juices in inventory, respectively.

Define trait shared between green algae and land plants : Which of the following is NOT a trait shared between green algae and land plants?

Explain whether n have binomial distribution : Let N be number of heads obtained on the ten flips. Determine: If you win $1 each time a head appears and you lose $1 each time a tail appears, is this fair game? Describe.

Discuss hypothesis testing of proportion : For a candidate to win in a congressional district, he has to have won over half of the vote. The Republican candidate takes a poll to assess his chances in a two-candidate race.

American insurance-two- sample tests of hypothesis : The president of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies.

Find probability that tony is heterozygous for the cf gene : Tony who is not diseased has a sister with cystic fibrousis(CF). neither of his parents have (CF).tony is expecting a child with Tina.Tina's family history is unknown.what is the probability that tony is heterozygous for the CF gene? Explain your ..

Why does their center appear white : When viewed under a microscope, healthy red blood cells appear flattened, circular and biconcave. They appear pink on the outside but have a whitish center. Why does their center appear white?

How many dollars convert to shillings : You are traveling abroad and have only American dollars with you. You are currently in the capital but you will soon be heading out to a small town for an extended stay.

Find the difference between tall and short stature : in a cross between true breeding tall plants and with true breeding short plants all of the F1 are tall.when these plants are allowed to fertilized themselves,the F2 plants are occure in a ratio of 3tall to1short. which of the following is not val..

User Account

All Pages