Hypothesis test for the difference between two means

Assignment Help Basic Statistics

Reference no: EM1322679

Hypothesis test for the difference between two means.

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 0.10 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: EM1322679

Questions Cloud

Find the p-value : Hypothesis testing of single mean - can we conclude that the mean weight is greater than 16 ounces? Determine the p -value.

Hypothesis testing of single mean : Hypothesis testing of single mean - The Wall Street Journal reported that the 30-year mortgage rate is now less than 6%.

Population standard deviations - hypothesis test : Hypothesis test for the difference between two means - Assume the population standard deviations are not the same. At the 0.05 significance level, is there a difference in the mean waiting time?

Program to calculate value of d=b squared-4ac : Provided that a method takes three parameters a, b, c, of type double, state some code, to be involved as a part of the method, which calculates whether the value of "b squared" – 4ac is negative. If negative, code prints out the message "no real sol..

Hypothesis test for the difference between two means : Hypothesis test for the difference between two means - To make the data comparable, certain features, such as the deductible amount and limits of liability, are standardized.

Draw the scatter plot for the variables : Correlation based on Scatter Plot - Draw the scatter plot for the variables.

Status of 3g and 4g network technologies : Describe the status of 3G and 4G network technologies in detail and also carry out some of the research work on the future of 5G technology.

Effects of technology : Select a new technology that interests you and analyze it from the sociological point of view. What do you consider this technology would contribute towards the society?

Database management : Additionally to limiting the actual tables or columns that a user has access to, you may also limit what the user does. Specify some of the ROLES you could allocate to the users and what would these roles do?

User Account

All Pages