Please no written by hand solution 9.29 An insurance company has the business objective of reduc-ing the amount of time it takes to approve applications for lifeinsurance. The approval process consists of underwriting, whichincludes a review of the application, a medical information bureaucheck, possible requests for additional medical information andmedical exams, and a policy compilation stage in which the policypages are generated and sent for delivery. The ability to deliverapproved policies to customers in a timely manner is critical tothe profitability of this service. During a period of one month, youcollect a random sample of 27 approved policies and the total pro-cessing time, in days, stored in Insurance, are:73 19 16 64 28 28 31 90 60 56 31 56 22 18 45 4817 17 17 91 92 63 50 51 69 16 17a. In the past, the mean processing time was 45 days. At the 0.05level of significance, is there evidence that the mean processingtime has changed from 45 days?b. What assumption about the population distribution is needed inorder to conduct the r test in (a)?c. Construct a boxplot or a normal probability plot to evaluate theassumption made in (b).d. Do you think that the assumption needed in order to conductther test in (a) is valid? Explain.

Given is the data on processing time (in days). Note that I used R software for calculating p-value…

Answered: 73 19 16 64 28 28 31 90 60 56 31 56 22…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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using Weierstrass app.
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You may need to use the appropriate appendix table or technology to answer this question. Individuals filing federal income tax returns prior to March 31 received an average refund of $1,059. Consider the population of "last-minute" filers who mail their tax return during the last five days of the income tax period (typically April 10 to April 15). (a) A researcher suggests that a reason individuals wait until the last five days is that on average these individuals receive lower refunds than do early filers. Develop appropriate hypotheses such that rejection of H0 will support the researcher's contention. A) H0: ?= $1,059 Ha: ? ≠ $1,059 B) H0: ?< $1,059 Ha: ?≥ $1,059 C) H0: ? ≥ $1,059 Ha: ? < $1,059 D) H0: ?> $1,059 Ha: ? ≤ $1,059 E) H0: ?≤ $1,059 Ha: ? > $1,059 (b) For a sample of 400 individuals who filed a tax return between April 10 and 15, the sample mean refund was $910. Based on prior experience, a population standard deviation of ? = $1,600may be…
savings banks are permitted to sell life insurance. The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage, in which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service to the bank. Using the DCOVA framework you define the variable of interest as the total processing time in days. You collect the data by selecting a random sample of 27 approved policies during a period of one month. You organize the data collected in a worksheet and store them in 73 19 16 64 28 28 31 90 60 56 31 56 22 18 45 48 17 17 17 91 92 63 50 51 69 16 17 a. Compute the mean, median. b. Compute the range, variance, standard deviation, and coefficient of variation. c. What would you tell a customer who enters…
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