1. state farm insurance company states that 90% of its claims are settled within 5 weeks....
1. state farm insurance company states that 90% of its claims are settled within 5 weeks. A consumer group selected a random sample of 100 of the company’s claims to test this statement. If the consumer group found that 75 of the claims were settled within 5 weeks, do they have sufficient reason to support their contention that fewer than 90% of the claims are settled within 5 weeks? Complete the test at the 0.05 level of significance using the p-value approach.
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1. state farm insurance company states that 90% of its claims
are settled within 5 weeks....
An insurance company states that at least 86% of its claims are settled within 30 days....
An insurance company states that at least 86% of its claims are settled within 30 days. A consumer group selected a random sample of 69 of the company's claims to test this statement. They found that 57 of the claims were settled within 30 days. Does the consumer group have evidence to disbelieve the insurance company's claim?
(12 points) An insurance company states that at least 89% of its claims are settled within...
(12 points) An insurance company states that at least 89% of its claims are settled within 30 days. A consumer group selected a random sample of 61 of the company's claims to test this statement. They found that 51 of the claims were settled within 30 days. Does the consumer group have evidence to disbelieve the insurance company's claim? 1. Write the hypotheses to test if the rate of claims settled within 30 days is less than 89%. Ho: The...
(1 point) An insurance company states that at least 86% of its claims are settled within...
(1 point) An insurance company states that at least 86% of its claims are settled within 30 days. A consumer group selected a random sample of 73 of the company's claims to test this statement. They found that 60 of the claims were settled within 30 days. Does the consumer group have evidence to disbelieve the insurance company's claim? 1. Write the hypotheses to test if the rate of claims settled within 30 days is significantly less than 86%. H0H0:...
18. An insurance company states that it settles 85% of all life insurance claims within 30...
18. An insurance company states that it settles 85% of all life insurance claims within 30 days. A consumer group asks the state insurance commission to investigate. In a sample of 250 life insurance claims, 203 were settled within 30 days. a. Test whether the true proportion of all life insurance claims made to this company that are settled within 30 days is less than 85%, at the 5% level of significance. b. Compute the observed significance of the test.
I need help with the last question in #2 and I need help with #3 (12...
I need help with the last question in #2 and I need help with
#3
(12 points) An insurance company states that at least 88% of its claims are settled within 30 days. A consumer group selected a random sample of 67 of the company's claims to test this statement. They found that 57 of the claims were settled within 30 days. Does the consumer group have evidence to disbelieve the insurance company's claim? 1. Write the hypotheses to test...
Richard has been Insurance: Auto The Mountain States Office of State Farm Insurance Company reports that...
Richard has been
Insurance: Auto The Mountain States Office of State Farm Insurance Company reports that approximately 85% of all automobile damage liability claims are made by people under 25 years of age. A random sample of five automobile insurance liability claims is under study. (a) Make a histogram showing the probability that r = 0 to 5 claims are made by people under 25 years of age. (b) Find the mean and standard deviation of this probability distribution. For...
uestion A1A Tires claims that its tires last longer than tires manufactured by its main competitor,...
uestion A1A Tires claims that its tires last longer than tires manufactured by its main competitor, YYZ Tires. A consumer group studied the lifespans of tires manufactured by each manufacturer. The lifespans of a random sample of 10 tires from each manufacturer, in thousands of miles, are recorded. Assume that the population standard deviation of the lifespan for tires manufactured by A1A Tires is 3 thousand miles, while the population standard deviation of the lifespan for tires manufactured by YYZ...
PLZ PLZ help me with number 7,8,9 plz write the answer in text not in image since its hard to read from pic, thank you! 7. | Insurance: Auto State Farm Insurance studies show that in Colorado, 55% of...
PLZ PLZ help me with number 7,8,9 plz write the answer in text
not in image since its hard to read from pic, thank you!
7. | Insurance: Auto State Farm Insurance studies show that in Colorado, 55% of the auto insurance claims submitted for property damage are submitted by males under 25 years of age. Suppose 10 property damage claims involving automobiles are selected at random (a) Let r be the number of claims made by males under age...
4. Page 452 #5. Among 30,617 randomly selected adults, 5787 consumed herbs within the past 12...
4. Page 452 #5. Among 30,617 randomly selected adults, 5787 consumed herbs within the past 12 months. Use a .01 significance level, to test the claim that fewer than 20% of adults consumed herbs within the past 12 months. 5. Page 441 #27. The Insurance Institute for Highway Safety conducted tests with crashes of new cars traveling at 6 mph. The total cost of the damage was found. Results are listed below for a simple random sample of the tested...
1) The state of CT claims that the average time in prison is 15 years. A...
1) The state of CT claims that the average time in prison is 15 years. A random survey of 75 inmates revealed that the average length of time in prison is 16.4 years with a standard deviation of 6.7 years. Conduct a hypothesis to test the state of CT's claim. What type of test should be run? t-test of a mean z-test of a proportion The alternative hypothesis indicates a right-tailed test left-tailed test two-tailed test Calculate the p-value. Keep...
(12 points) An insurance company states that at least 89% of its claims are settled within 30 days. A consumer group selected a random sample of 61 of the company's claims to test this statement. They found that 51 of the claims were settled within 30 days. Does the consumer group have evidence to disbelieve the insurance company's claim? 1. Write the hypotheses to test if the rate of claims settled within 30 days is less than 89%. Ho: The...
18. An insurance company states that it settles 85% of all life insurance claims within 30 days. A consumer group asks the state insurance commission to investigate. In a sample of 250 life insurance claims, 203 were settled within 30 days. a. Test whether the true proportion of all life insurance claims made to this company that are settled within 30 days is less than 85%, at the 5% level of significance. b. Compute the observed significance of the test.
I need help with the last question in #2 and I need help with
#3
(12 points) An insurance company states that at least 88% of its claims are settled within 30 days. A consumer group selected a random sample of 67 of the company's claims to test this statement. They found that 57 of the claims were settled within 30 days. Does the consumer group have evidence to disbelieve the insurance company's claim? 1. Write the hypotheses to test...
Richard has been
Insurance: Auto The Mountain States Office of State Farm Insurance Company reports that approximately 85% of all automobile damage liability claims are made by people under 25 years of age. A random sample of five automobile insurance liability claims is under study. (a) Make a histogram showing the probability that r = 0 to 5 claims are made by people under 25 years of age. (b) Find the mean and standard deviation of this probability distribution. For...
PLZ PLZ help me with number 7,8,9 plz write the answer in text
not in image since its hard to read from pic, thank you!
7. | Insurance: Auto State Farm Insurance studies show that in Colorado, 55% of the auto insurance claims submitted for property damage are submitted by males under 25 years of age. Suppose 10 property damage claims involving automobiles are selected at random (a) Let r be the number of claims made by males under age...
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