You may need to use the appropriate technology to answer this question. The Insure.com website reports that the mean annual premium for automobile insurance in the United States was $1,503 in March 2014. Being from Pennsylvania at that time, you believed automobile insurance was cheaper there and decided 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 $1,430 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. Ho: u = 1,503 H: u = 1,503 o Ho: H < 1,503 H: u2 1,503 lo Ho: H > 1,503 H: us 1,503 o Ho: H 2 1,503 H: u < 1,503 O Ho: HS 1,503 H:µ > 1,503 (b) What is a point estimate in dollars of the difference between the mean annual premium in Pennsylvania and the national mean? (Use the mean annual premium in Pennsylvania minus the national mean.) $ 73

You may need to use the appropriate technology to answer this question. The Insure.com website reports that the mean annual premium for automobile insurance in the United States was $1,503 in March 2014. Being from Pennsylvania at that time, you believed automobile insurance was cheaper there and decided 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 $1,430 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. Ho: u = 1,503 H: u = 1,503 o Ho: H < 1,503 H: u2 1,503 lo Ho: H > 1,503 H: us 1,503 o Ho: H 2 1,503 H: u < 1,503 O Ho: HS 1,503 H:µ > 1,503 (b) What is a point estimate in dollars of the difference between the mean annual premium in Pennsylvania and the national mean? (Use the mean annual premium in Pennsylvania minus the national mean.) $ 73

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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