User Account

All Pages

Compute the proportion of policy holders

Assignment Help Basic Statistics
Reference no: EM131752783

Question: Is it OK to pad an insurance claim? The results of a recent survey revealed that 24% of Americans believe that it is acceptable to increase an insurance claim by a small amount to make up for deductibles that they are required to pay. Suppose Liberty Mutual Insurance Company has hired an independent agency to conduct a survey of its automobile policy holders. Liberty Mutual plans to increase all policies by a fixed rate if there is evidence to suggest that more than 24% of policy holders view claim padding as acceptable. Of the 355 policy holders contacted, 96 said they view claim padding as acceptable. Is there any evidence to suggest that the proportion of policy holders that view claim padding as acceptable is greater than 0.24? Use a = 0.05.

Reference no: EM131752783

Questions Cloud

Calculate the horizontal and vertical analysis of yum : ACCT212 Project: Financial Statement Analysis-YUM! Brands, Inc. Calculate the Horizontal & Vertical Analysis of YUM Brands, Inc
What is the required return on the company stock : If the company has a dividend yield of 8.2 percent, what is the required return on the company's stock?
Interest on alternative investments of similar risk : How much would you pay for the right to receive $80 at the end of 10 years if you can earn 15 percent interest on alternative investments of similar risk?
Bonds make semiannual payments : Braemar Corp. issued F-year bonds two years ago at a coupon rate of 7.1 percent. The bonds make semiannual payments.
Compute the proportion of policy holders : Is it OK to pad an insurance claim? The results of a recent survey revealed that 24% of Americans believe that it is acceptable to increase an insurance claim.
Discuss an example of each retailer type : Explain how retailers can be classified by the amount of service offered and discuss an example of each retailer type.
Discuss harkins hoagies which is organized as a corporation : Harkins' accountant, Nancy Brieschke, recorded this receipt as an increase in cash and revenues. Is this treatment appropriate
What environments work best for your buildings and why : What environments work best for your buildings and why. Which ones do not? How does this experiment help you to understand unity and variety in Architecture.
Discuss what is the journal entry necessary : what is the journal entry necessary in 2017 (if any) to adjust deferred taxes

Reviews

Write a Review

Basic Statistics Questions & Answers

  Find the cost of the automobile in the pacific northwest

A particular automobile costs an average of $17,755 in the Pacific Northwest. The standard deviation of prices is $650. Suppose a random sample of 30 dealership

  Problem regarding the galileo data

Use Galileo's data in Display 10.1 (data file: case1001) to perform the following operations. (a) Fit the regression of distance on height and height-squared. Obtain the estimates, their standard errors, the estimate of a 2, and the variance-covarian..

  Sample standard deviation for the amount of unspent money

Find the sample mean and sample standard deviation for the amount of unspent money returned at the end of the day.

  Numerical value of the slope

1. What is the slope of this line? Say in words what the numerical value of the slope tells you. 2. What is the intercept? Explain why the value of the intercept is not statistically meaningful.

  Find confidence interval for the true proportion of voters

A survey of 608 adults showed that 401 of them approved of the way city government was being run. Find a 99% confidence interval for the true proportion of voters who approve the way city government is being run.

  Football ascension to a major spectator

Football's ascension to a major spectator sport sprang from several different interests, including those of players, college administrators

  Introduction to normal distribution

Heights of 18-year-old men are approximately normally distributed, with mean 68 inches and standard deviation 3 inches.

  Construct a 99 confidence interval estimate of the mean of

construct a 99 confidence interval estimate of the mean of the differences between volumes for the first born and the

  Probability values depend on normal distribution

Find out the probability that: (a) The amount requested is between $65,000 or more?

  School administrative and financial tasks

Willow brook School is a small, private school in the Midwest United States. As an independent systems analyst, you work as an IT consultant, specializing in developing IT solutions for small businesses. You have been contacted by the director, Vi..

  What is the probability that he will win

The "daily number" of a state lottery is a 3-digit integer from 000 to 999.- Sam buys a ticket for the number 333. What is the probability that he will win?

  Compare the two forecasts by utilizing mad

Calculate a 3-month moving average forecast for months 4 through 9 also Compare the two forecasts by utilizing MAD. Which forecast appears to be more accurate.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd