An insurance agent randomly selected 10 of his clients and checked online price quotes for...
An insurance agent randomly selected 10 of his clients and checked online price quotes for their policies. His summaries of the data are shown, where Diff is Local minus−Online.
Variable Count Mean StdDev
Local 10 970.600 400.921
Online 10 928.800 308.986
Diff 10 41.8000 170.607
Test an appropriate hypothesis to see if there is evidence that drivers might save money by switching to an online agent. Use
α= 0.05.
HO: μd=0
HA: μd>0
Compute the test statistic and Find the P-value.
Homework Answers
Given
HO?: ?d=0 HA?: ?d>0
P-value = 0.2292
Here P-value > alpha 0.05, So we accept H0
Thus we conclude that ?d=0
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