MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Hypothesis test (One-Sample)
Sample Size
Sample Mean
Sample Std Dev
Hypothesized Value
Level of significance
Standard Error
Test Statistic
Degrees of Freedom
(Check if you need a one-tail or two tail test)
p-value (lower-tail)
p-value (upper-tail)
p-value (two-tail)
Critical Value (lower-tail)
Critical Value upper-tail)
Critical Value (two-tail) Use absolute value if test stat is positive
T Dist (Summary Statistic)
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#DIV/0!
#NUM!
#NUM!
#NUM!
1365
0.05
-1
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Transcribed Image Text:Hypothesis test (One-Sample) Sample Size Sample Mean Sample Std Dev Hypothesized Value Level of significance Standard Error Test Statistic Degrees of Freedom (Check if you need a one-tail or two tail test) p-value (lower-tail) p-value (upper-tail) p-value (two-tail) Critical Value (lower-tail) Critical Value upper-tail) Critical Value (two-tail) Use absolute value if test stat is positive T Dist (Summary Statistic) #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #NUM! #NUM! #NUM! 1365 0.05 -1
Automobile Insurance Premiums. Insure.com reports that the mean annual premium for
automobile insurance in the United States was $1365 in 2018. Being from Pennsylvania, you believe
automobile insurance is cheaper there and wish to develop statistical support for your opinion. A
sample of 25 automobile insurance policies from the state of Pennsylvania showed a mean annual
premium of $1302 with a standard deviation of s = $165.
a. Develop a hypothesis test that can be used to determine whether the mean annual premium in
Pennsylvania is lower than the national mean annual premium.
b. What is a point estimate of the difference between the mean annual premium in Pennsylvania
and the national mean?
c. At a = .05, test for a significant difference. What is your conclusion?
expand button
Transcribed Image Text:Automobile Insurance Premiums. Insure.com reports that the mean annual premium for automobile insurance in the United States was $1365 in 2018. Being from Pennsylvania, you believe automobile insurance is cheaper there and wish to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of Pennsylvania showed a mean annual premium of $1302 with a standard deviation of s = $165. a. Develop a hypothesis test that can be used to determine whether the mean annual premium in Pennsylvania is lower than the national mean annual premium. b. What is a point estimate of the difference between the mean annual premium in Pennsylvania and the national mean? c. At a = .05, test for a significant difference. What is your conclusion?
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