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The records of a casualty insurance company show that, in the past, its clients have had a mean of1.7 auto accidents per day with a
The records of a casualty insurance company show that, in the past, its clients have had a mean of1.7
auto accidents per day with a standard deviation of0.04
. The actuaries of the company claim that the standard deviation of the number of accidents per day is no longer equal to0.04
. Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesisH
0
and the alternative hypothesisH
1
that we would use for this test.
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