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You start with the $432 amount that is advertised as the average yearly savings. You want to check to see if this is perhaps an

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You start with the $432 amount that is advertised as the average yearly savings. You want to check to see if this is perhaps an overestimate of the amount actually saved. You randomly sample 82 customers who switched to SaveSmart from another insurance carrier, and find an average savings of $415 with a standard deviation of $102. 1) Complete the 6 steps for a hypothesis test at the 5% level of significance to determine if the $432 average savings is an overestimate. 2) Calculate a 90% confidence interval for the average amount of savings of all customers who switch their insurance to SaveSmart. Interpret the interval in this context and comment on whether or not the confidence interval agrees with the conclusion of the hypothesis test. You now move on to the next part of your task. While gathering data about yearly savings, you also asked the customers who had switched to SaveSmart, "Are you satisfied with your decision to switch your insurance to SaveSmart?" 61% of the respondents said, "No." 3) Complete the 6 steps for a hypothesis test at the 3% level of significance to determine if these data provide strong evidence that the majority of customers who switched to SaveSmart are NOT satisfied with their decision. 4) Calculate a 94% confidence interval for the proportion customers who were not satisfied with their decision to switch to SaveSmart. Interpret the interval in this context and comment on whether or not the confidence interval agrees with the conclusion of the hypothesis test

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