1250 1000 750 500 -200 0 200 Price Diff ($) -400 Local Online Premium ($) # of Premiums 2.
1250 1000 750 500 -200 0 200 Price Diff ($) -400 Local Online Premium ($) # of Premiums 2.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter3: Functions And Graphs
Section3.6: Quadratic Functions
Problem 12E
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Question
Online insurance II In Exercise 11, we saw summary
statistics for 10 drivers’ car insurance premiums quoted
statistics for 10 drivers’ car insurance premiums quoted
by a local agent and an online company. Here are dis-
plays for each company’s quotes and for the difference
plays for each company’s quotes and for the difference
(Local – Online):
a) Which of the summaries would help you decide whether
the online company offers cheaper insurance? Why?
b) The standard deviation of PriceDiff is quite a bit
smaller than the standard deviation of prices quoted by
either the local or online companies. Discuss why.
the online company offers cheaper insurance? Why?
b) The standard deviation of PriceDiff is quite a bit
smaller than the standard deviation of prices quoted by
either the local or online companies. Discuss why.
c) Using the information you have, discuss the assump-
tions and conditions for inference with these data.
tions and conditions for inference with these data.
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