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The average U.S. household has $235,600 in life insurance. A local insurance agent would like to see how households in his city compared to the
The average U.S. household has $235,600 in life insurance. A
local insurance agent would like to see how households in his
city compared to the national average, and selects a simple
random sample of 30 households from the city. For households
in the sample, the average amount of life insurance is =
$245,800 with s = $25,500. Using a nondirectional hypothesis
test and a level of significance of 90%, what conclusion would
be reached?
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