Suppose the national average dollar amount for an automobile insurance claim is $973.04. You work for an agency in Michigan and you are interested in whether or not the state average is greater than the national average. The hypotheses for this scenario are as follows: Null Hypothesis: μ ≤ 973.04, Alternative Hypothesis: μ > 973.04. You take a random sample of claims and calculate a p-value of 0.3431 based on the data, what is the appropriate conclusion? Conclude at the 5% level of significance. Question 10 options: 1) We did not find enough evidence to say the true average claim amount is less than $973.04. 2) We did not find enough evidence to say a significant difference exists between the true average claim amount and $973.04. 3) The true average claim amount is less than or equal to $973.04. 4) The true average claim amount is significantly higher than $973.04. 5) We did not find enough evidence to say the true average claim amount is higher than $973.04.

Suppose the national average dollar amount for an automobile insurance claim is $973.04. You work for an agency in Michigan and you are interested in whether or not the state average is greater than the national average. The hypotheses for this scenario are as follows: Null Hypothesis: μ ≤ 973.04, Alternative Hypothesis: μ > 973.04. You take a random sample of claims and calculate a p-value of 0.3431 based on the data, what is the appropriate conclusion? Conclude at the 5% level of significance. Question 10 options: 1) We did not find enough evidence to say the true average claim amount is less than $973.04. 2) We did not find enough evidence to say a significant difference exists between the true average claim amount and $973.04. 3) The true average claim amount is less than or equal to $973.04. 4) The true average claim amount is significantly higher than $973.04. 5) We did not find enough evidence to say the true average claim amount is higher than $973.04.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section: Chapter Questions

Problem 8CR

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