Test using the traditional approach with a = 0.05

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Reference no: EM1321136

Question: An insurance company states that 75 percent of its claims are settled within 5 weeks. A consumer group selected a random sample of 50 of the company’s claims and found 35 of the claims were settled within five weeks. Is there enough evidence to support the consumer groups claim that fewer than 75 percent of the claims were settled within five weeks? Test using the traditional approach with α = 0.05.

Reference no: EM1321136

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