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The mean annual premium for automobile insurance in the United States is $1,503. Being from Pennsylvania, you believe automobile insurance is cheaper there and wish
The mean annual premium for automobile insurance in the United States is $1,503. Being from Pennsylvania, you believe automobile insurance is cheaper there and wish to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of Pennsylvania showed a mean annual premium of $1,440 with a standard deviation of
s = $165.
(c) At a = 0.05, test for a significant difference. Find the value of the test statistic. (Round your answer to three decimal places.) -1.91 Find the p-value. (Round your answer to four decimal places.) p-value = 0.9719 XStep by Step Solution
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