Analysis-of-variance table

Reference no: EM13966100

In an effort to investigate the premium charged by insurance companies for auto insur- ance, an agency randomly selects a few drivers who are insured by one of three different companies. These individuals have similar cars, driving records, and levels of coverage.

Table gives the premiums paid per 6 months by these drivers with these three companies.

Table
Company I	Company II	Company III
396	348	378
438	360	330
336	522	294
318	474	432

(a) Construct an analysis-of-variance table and interpret the results.

(b) Using the 5% signi?cance level, test the null hypothesis that the mean auto insurance premium paid per 6 months by all drivers insured for each of these companies is the same. Assume that the conditions of completely randomized design are met.

Reference no: EM13966100

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