Question

2. [25 POINTS = 15+101 BONNIE (WHO WORKS AS INSURANCE ANALYST) COLLECTED DATA FOR TWO INDEPENDENT GROUPS OF CAR POLICIES, EACH GROUPS INCLUDED n1 = n2 8 MONTHLY PREMIUM VALUES. BONNIE ASSUMED THAT THE POPULATION VARIANCES FOR TWO GROUPS ARE KNOWN AS (σ)-(o2)2 = 9 SAMPLE SUMMARIES WERE FOUND AS FOLLOWS (SAMPLE MEAN FOR GROUP I) = 33.40 AND (SAMPLE VARIANCE) = 7 (SAMPLE MEAN FOR GROUP II)-37.30 AND (SAMPLE VARIANCE)-11 AT THE 1% SIGNIFICANCE LEVEL, DOES BONNIE HAVE SUFFICIENT EVIDENCE THAT THE POPULATION AVERAGE PREMIUM FOR GROUP I WAS LOWER THAN FOR GROUP II? SHOW THE TEST STATISTIC VALUE, THE CRITICAL VALUE(S) NEEDED FOR YOUR DECISION AND FORMULATE THE REJECTION RULE NULL HYPOTHESIS STATES ALTERNATIVE HYPOTHESIS STATES: TEST STATISTIC CRITICAL VALUE REJECTION RULE STATES: DECISION: WE (REJECT) (DO NOT REJECT) THE NULL HYPOTHESIS HELP BONNIE ESTIMATING THE DIFFERENCE BETWEEN TWO POPULATION MEANS WITH THE 95% CONFIDENCE SHOW THE DETAILED ANSWERS, PLEASE! CRITICAL VALUE MID-POINT MARGIN OF ERROR UPPER CONFIDENCE LIMIT LOWER CONFIDENCE LIMIT

Answer 1

Seluition 2 tlena 二1-2-6 2 -t mf 二2-74 listnit.ニ@rng) + 2, qu