1. Problem #38 in textbook page 381. b. Explain which distribution (normal or t) must be used for this problem. WHY? c. Which case (A, B, or C) is used? Explain your answer. d. State the assumptions for this case. e. State the hypothesis for this problem. f. State the level of significance. g. Create a decision rule. Construct the appropriate graph and include the critical value. h. Calculate the test statistic. i. State the conclusion. j. Estimate the p-value. (SHOW ALL WORK FROM TABLE.) Restate the conclusion. 2. Problem #42 in textbook page 382. a. Using data analysis provide an excel printout
Bety Employee Bauman Briggs Dottellis Lee Perralt Rielly Steinmetz Stoltz 6 6 7 7 4 3 5 6. 5 2 1 3 3 6 3 7 38. FILE 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 data for the sample of families and their two insurance quotes are reported below. At the 10 significance level, can we conclude that there is a difference in the amounts quoted? Family Becker Berry Cobb Debuck DuBrul Eckroate German Glasson King Kucic Meredith Obeid Price Phillips Tresize Midstates Car Insurance $2,090 1,683 1,402 1,830 930 697 1,741 1,129 1,018 1,881 1,571 874 1,579 1,577 860 Gecko Mutual Insurance $1,610 1,247 2,327 1,367 1,461 1,789 1,621 1,914 1,956 1,772 1,375 1,527 1,767 1,636 1,188 39. Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different advertising approaches, it uses different media to reach potential Bety Employee Bauman Briggs Dottellis Lee Perralt Rielly Steinmetz Stoltz 6 6 7 7 4 3 5 6. 5 2 1 3 3 6 3 7 38. FILE 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 data for the sample of families and their two insurance quotes are reported below. At the 10 significance level, can we conclude that there is a difference in the amounts quoted? Family Becker Berry Cobb Debuck DuBrul Eckroate German Glasson King Kucic Meredith Obeid Price Phillips Tresize Midstates Car Insurance $2,090 1,683 1,402 1,830 930 697 1,741 1,129 1,018 1,881 1,571 874 1,579 1,577 860 Gecko Mutual Insurance $1,610 1,247 2,327 1,367 1,461 1,789 1,621 1,914 1,956 1,772 1,375 1,527 1,767 1,636 1,188 39. Fairfield Homes is developing two parcels near Pigeon Fork, Tennessee. In order to test different advertising approaches, it uses different media to reach potential
