Summary statistics for 10 drivers' car insurance premiums quoted by a local agent and an online...
Summary statistics for 10 drivers' car insurance premiums quoted by a local agent and an online company are shown in the table to the right. The accompanying table has displays for each company's quotes and for the difference left parenthesis Local minus Online right parenthesis . Variable Count Mean StdDev Local 10 802.8 220.587 Online 10 754.8 284.838 PriceDiff 10 48.0 155.531 Test an appropriate hypothesis to see if there is evidence that drivers might save money by switching to the online company. LOADING... Click the icon to view the data table, boxplot, and histogram for insurance premiums. Identify the null and alternative hypotheses. A. Upper H 0: mu Subscript dequals0 Upper H Subscript Upper A: mu Subscript dnot equals0 B. Upper H 0: mu Subscript dequals0 Upper H Subscript Upper A: mu Subscript dgreater than0 C. Upper H 0: mu 1 minus mu 2equals0 Upper H Subscript Upper A: mu 1 minus mu 2greater than0 D. Upper H 0: mu 1 minus mu 2equals0 Upper H Subscript Upper A: mu 1 minus mu 2not equals0 Calculate the test statistic. tequals nothing (Round to three decimal places as needed.) Calculate the P-value. P-valueequals nothing (Round to four decimal places as needed.) State the conclusion. Assume alphaequals0.05. ▼ Reject Fail to reject Upper H 0. There ▼ is is not sufficient evidence that online premiums, on average, are lower.
Homework Answers
let d = local - online
and
Conclusion: There is not sufficient evidence that online premiums, on average, are lower.
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Summary statistics for 10 drivers' car insurance premiums
quoted by a local agent and an online...
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