Question

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Jenni, the insurance agent mentioned in question 2, offers all her whole-life policyholders a free insurance needs assessment meeting each year. Some policyholders accept Jenni's offer, some don't. Jenni wonders if the persistency or whole life policies she writes is the same for policyholders who schedule a needs assessment as those for policyholders who do not schedule a needs assessment. Jenni randomly selects 26 policyholders who schedule annual needs assessments and 21 policyholders who don't, and compared their persistencies. The results were as follows: Standard Deviation Mean Persistency (years) 14.6 14.2 2.84 Needs Assessment No Needs Assessment 21 Determine with an a-0.05 whether persistencies are the same for policyholders receiving the needs assessment as for those not receiving the assessment a. State Jenni's null and alternate hypotheses, (0.25 points) b. Calculate the point estimate. (0.25 points) c. Calculate the standard error. (0.25 points) d. Is this a single-or two-tailed test? (0.25 points) e Compute Jenni's test statistic and compare it to the critical t-value for this confidence level and its degrees of freedom. (0.75 points) State Jenni's decision (0.25 points)

Answer 1

gium ni=26 M2 =21 X = 14.6 X = 14.2 5,=2.84 S₂ = 3.15 R27 1 (a) Ho : M = Me or Hoi detero v/s Hi: Mz & Me Hii Hendla to where dei = mean persitency of population from later the that those who schedule annuel needs. Me = mean persistency of population for S those whon schedule annual needs I dont' 163 point estimate of hardly = x-te = 14,6 -14.2 = 0.4 (c) Standerd enor for 54-72 OY - 2 LO 2 it (d) (e) = 10:782715 = 0.88471 SEC54-) = 0.88474 is tuo tall festa test statistie t=124-X)-(deo-der) no t dof SF (x-2) dot = (a + ) 0.612642 0,612642 0.015011 N2-1

def = 40.61 [defa up] under une trame = Corte u - SECV-Key L.. . 212 0.88421 = 0.4522 1 PG 141220148212) Pilateral Critical t-value = 2.0195 i tralue < Cristead of value s we fail to reject null hypotheses, that means there is no persistence difference.bleu their persistencia