Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 1 of 3 Does where you live affect your insurance rate? The mean auto insurance rate for 30 drivers in a large city is

image text in transcribed
Question 1 of 3 Does where you live affect your insurance rate? The mean auto insurance rate for 30 drivers in a large city is $1,872 per car with a standard deviation of $378 while the mean rate for 22 drivers in a rural area is $1,627 with a standard deviation of $292. At a = 0.025, can we conclude that drivers in the large city pay higher insurance rates than those in the rural area, assuming the population variances are equal? T-Distribution Table (https://vretta-assignment-assets.$3.amazonaws.com/t_dist_table_sb.pdf) a. Calculate the test statistic. t = 0.000 Round to three decimal places if necessary b. Determine the critical value(s) for the hypothesis test. Round to three decimal places if necessary c. Conclude whether to reject the null hypothesis or not based on the test statistic. Reject

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Graphical Approach To College Algebra

Authors: John E Hornsby, Margaret L Lial, Gary K Rockswold

6th Edition

0321900766, 9780321900760

More Books

Students also viewed these Mathematics questions

Question

5. How is Karen Slagles argument an example of confirmation bias?

Answered: 1 week ago

Question

What steps will Sara need to take to conduct a benefit audit?

Answered: 1 week ago