The average U.S. household has $235,600 in life insurance. A local insurance agent would like to see how households in his city compared to the national average, and selects a simple random sample of 30 households from the city. For households in the sample, the average amount of life insurance is = $245,800 with s = $25,500. Using a non-directional hypothesis test and a level of significance of 90%, what conclusion would be reached?
The average U.S. household has $235,600 in life insurance. A local insurance agent would like to see how households in his city compared to the national average, and selects a simple random sample of 30 households from the city. For households in the sample, the average amount of life insurance is = $245,800 with s = $25,500. Using a non-directional hypothesis test and a level of significance of 90%, what conclusion would be reached?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.4: Collecting Data
Problem 3E
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The average U.S. household has $235,600 in life insurance. A local insurance agent would like to see how households in his city compared to the national average, and selects a simple random sample of 30 households from the city.
For households in the sample, the average amount of life insurance is = $245,800 with s = $25,500. Using a non-directional hypothesis test and a level of significance of 90%, what conclusion would be reached?
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