Nationwide Mutual Insurance, based in Columbus, Ohio, is one of the largest diversified insurance and financial services

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Nationwide Mutual Insurance, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organizations in the world, with more than $140 billion in assets. Nationwide ranked 124th on the Fortune 500 list in 2010. The company provides a full range of insurance and financial services. In a recent news release, Nationwide reported the results of a new survey of 1,097 identity theft victims. The survey shows victims spend an average of 81 hours trying to resolve their cases. If the true average time spent was 81 hours, determine the probability that a test of hypothesis designed to test that the average was less than 85 hours would select the research hypothesis. Use α = 0.05 and a standard deviation of 50.
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Business Statistics A Decision Making Approach

ISBN: 9780133021844

9th Edition

Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry

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