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4. Insurance companies charge clients under 25 more for auto insurance than clients over 25. They...
ms Help Last edit was seconds ago es New... 11 + BI U A G- EEEE...
ms Help Last edit was seconds ago es New... 11 + BI U A G- EEEE IE 2 3 2 5 6 In order to determine whether or not gender and movie preference are independent, the following data is collected. Can we conclude gender is related to movie preference at a = 5%? Movie Preference Gender Male Female Romance 10 50 Comedy 20 25 Drama 5 5 Adventure Mystery 40 15 15 15 5 In a recent study of 2,541...
An auto insurance company has 32,000 clients, and 5% of their clients submitted a claim in...
An auto insurance company has 32,000 clients, and 5% of their clients submitted a claim in the past year. We will take a sample 3,200 clients, and determine how many of them have submitted a claim in the past year. a) What is the sampling distribution for the sample proportion? b) Increased road accidents have caused an increase in these claims. What is the probability that the proportion of claims in the sample is more than 9%?
Records from previous years for a casualty insurance company show that its clients average a combined...
Records from previous years for a casualty insurance company show that its clients average a combined total of 1.7 auto accidents per day, with a standard deviation of 0.56. The actuaries of the company claim that the current standard deviation, o, of the number of accidents per day is not equal to 0.56. A random sample of 10 recent days had a mean of 2 accidents per day with a standard deviation of 0.26. If we assume that the number...
The records of a casualty insurance company show that, in the past, its clients have had...
The records of a casualty insurance company show that, in the past, its clients have had a mean of 1.7 auto accidents per day with a standard deviation of 0.05. The actuaries of the company claim that the standard deviation of the number of accidents per day is no longer equal to 0.05. Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis H, and the...
An insurance company selected samples of clients under 18 years of age and over 18 and...
An insurance company selected samples of clients under 18 years of age and over 18 and recorded the number of accidents they had in the previous year. The results are shown below. Under Age of 18 ni = 500 Number of accidents = 180 Over Age of 18 n2 = 600 Number of accidents = 150 We are interested in determining if the accident proportions differ between the two age groups. Refer to Exhibit 11-7. The p-value is a. 0.3...
An insurance company selected samples of clients under 18 years of age and over 18 and...
An insurance company selected samples of clients under 18 years of age and over 18 and recorded the number of accidents they had in the previous year. The results are shown below. Under Age of 18 Over Age of 18 n1 = 500 n2 = 600 Number of accidents = 180 Number of accidents = 150 We are interested in determining if the accident proportions differ between the two age groups. The p-value is:
An insurance company selected samples of clients under 18 years of age and over 18 and...
An insurance company selected samples of clients under 18 years of age and over 18 and recorded the number of accidents they had in the previous year. The results are shown below. Under Age of 18 Over Age of 18 n1 = 400 n2 = 500 Number of accidents = 190 Number of accidents = 150 Do people under the age of 18 get into significantly more accidents? Use a = 1%. "While I hope you have an appropriate null...
An insurance company selected samples of clients under 18 years of age and over 18 and...
An insurance company selected samples of clients under 18 years of age and over 18 and recorded the number of accidents they had in the previous year. The results are shown below. Under Age of 18 Over Age of 18 n1 = 500 n2 = 600 Number of accidents = 180 Number of accidents = 150 We are interested in determining if the accident proportion for the Under 18 is larger than the proportion for Over 18. Let pu represent...
STATISTIC REVIEW Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out...
STATISTIC REVIEW Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a 1-year period. The average claim paid was $1570. Assume the standard deviation is $250. Find 0.90 and 0.99 confidence intervals for the mean claim payment.
The records of a casualty insurance company show that, in the past, its clients have had...
The records of a casualty insurance company show that, in the past, its clients have had a mean of 1.9 auto accidents per day with a variance of 0.0025. The actuaries of the company claim that the variance of the number of accidents per day is no longer equal to 0.0025. Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis H, and the alternative hypothesis...
ms Help Last edit was seconds ago es New... 11 + BI U A G- EEEE IE 2 3 2 5 6 In order to determine whether or not gender and movie preference are independent, the following data is collected. Can we conclude gender is related to movie preference at a = 5%? Movie Preference Gender Male Female Romance 10 50 Comedy 20 25 Drama 5 5 Adventure Mystery 40 15 15 15 5 In a recent study of 2,541...
Records from previous years for a casualty insurance company show that its clients average a combined total of 1.7 auto accidents per day, with a standard deviation of 0.56. The actuaries of the company claim that the current standard deviation, o, of the number of accidents per day is not equal to 0.56. A random sample of 10 recent days had a mean of 2 accidents per day with a standard deviation of 0.26. If we assume that the number...
The records of a casualty insurance company show that, in the past, its clients have had a mean of 1.7 auto accidents per day with a standard deviation of 0.05. The actuaries of the company claim that the standard deviation of the number of accidents per day is no longer equal to 0.05. Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis H, and the...
An insurance company selected samples of clients under 18 years of age and over 18 and recorded the number of accidents they had in the previous year. The results are shown below. Under Age of 18 ni = 500 Number of accidents = 180 Over Age of 18 n2 = 600 Number of accidents = 150 We are interested in determining if the accident proportions differ between the two age groups. Refer to Exhibit 11-7. The p-value is a. 0.3...
An insurance company selected samples of clients under 18 years of age and over 18 and recorded the number of accidents they had in the previous year. The results are shown below. Under Age of 18 Over Age of 18 n1 = 400 n2 = 500 Number of accidents = 190 Number of accidents = 150 Do people under the age of 18 get into significantly more accidents? Use a = 1%. "While I hope you have an appropriate null...
The records of a casualty insurance company show that, in the past, its clients have had a mean of 1.9 auto accidents per day with a variance of 0.0025. The actuaries of the company claim that the variance of the number of accidents per day is no longer equal to 0.0025. Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis H, and the alternative hypothesis...
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