Annual income and the amount of life insurance policies

Reference no: EM13965352

The following table gives the annual incomes (in thousands of dollars) and amounts (in thousands of dollars) of life insurance policies for eight persons.

Annual income	42	58	27	36	70	24	53	37
Life insurance	150	175	25	75	250	50	250	100

(a) At the 98% con?dence level, test whether annual income and the amount of life insurance policies are independent.

(b) Find the attained signi?cance level.

(c) State any assumptions you have made in solving the problem.

Reference no: EM13965352

Questions Cloud

Describe in words how you add ten vectors : Knowing Vectors A and B as given above and given a vector C = (-200) xunit vector + (-160) yunit vector. C is also measured in grams for its magnitude. What is the x-component of the Equilibrant of A+B+C?

Explain newton second law of motion and give example : What are the units of mass and the units of weight for the metric system? What are the units of mass and the units of weight for the English system?

Estimate the demand for housing : A study is conducted to estimate the demand for housing (y) based on current interest rate X1 and the rate of unemployment. The data in Table 8.6.1 are obtained.

Address the practical and healthcare implications : What are critical common components to all religions/beliefs in regards to healing, such as prayer, meditation, belief and what is important to patients of the faiths when cared for by health care providers whose spiritual beliefs differ from thei..

Annual income and the amount of life insurance policies : (a) At the 98% con?dence level, test whether annual income and the amount of life insurance policies are independent. (b) Find the attained signi?cance level. (c) State any assumptions you have made in solving the problem.

What is the magnitude of displacement in km : Path A is 9.0 km long heading 60.0° north of east. Path B is 6.0 km long in a direction due east. Path C is 3.0 km long heading 315° counterclockwise from east. Graphically add the hiker's displacements in the order A, B, C. What is the magnitude ..

Find the p-value : (a) At 95% con?dence level, test whether X and Y are independent. (b) Find the p-value. (c) State any assumptions you have made in solving the problem.

Chris shannon is employed by acme company : Allocate Ms. Shannon's earnings for the week between direct labor and manufacturing overhead.

Direct labor and manufacturing overhead : Allocate Mr. DeJay's earnings for the week between direct labor and manufacturing overhead.

User Account

All Pages