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Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. The insurance company knows that, last year, the life expectancy of its policyholders was 77 years. They want to know if their clients this year have a longer life expectancy, on average, so the company randomly samples some of the recently paid policies to see if the mean life expectancy of policyholders has increased. The insurance company will only change their premium structure if there is evidence that people who buy their policies are living longer than before.
Does this sample indicate that the insurance company should change its premiums because life expectancy has increased? Test an appropriate hypothesis and state your conclusion.
Follow the conventions as described in the general guidelines for writing up Special Problems.
Determine whether the evidence is enough to reject the salesperson's claim. Establish the Null and alternative hypothesis, and choose the right test statistics.
On weekdays there is an average of four customers waiting in line. What is the probability that you visit Safeway today during this period and find: No customers are waiting?
Your company manufactures low calorie frozen dinners. The advertised calorie content is 200 calories. A consumer activist group, FACT: fat and calories tribunal, is claiming that your product is not consistent.
A Variable has a mean of 100 and a standard deviation of 16. Four observations of this variable have a mean of 108 and a sample standard deviation of 12. Test whether the sample has been drawn from the population.
At the .05 level of significance, can we conclude that those joining Weight Reducers on average will lose less than 10 pounds? Determine the p -value.
A college believes that 28% of applicants to that school have parents who have remarried. How large a sample is needed to estimate the true proportion of students who have parents who have remarried to within 5 percentage points with 95% confidenc..
To revise an existing inventory system, a company needs to know something about the lead time for orders it places for a critical part. The company looks at the last 20 orders placed and finds that the lead time in days are:
Is there a significant difference in mean fetal heart rates by position? Run the test at a 5% level of significance.
The rate of defects among CD players of a certain brand is 1.1%. Use the Poisson approximation to the binomial distribution to find the probability that among 240 such CD players received by a store, there is at most one defective CD player.
With a=.05 and a sample of n=15 in a repeated-measures study comparing two treatments, what are the t statistic boundaries for the two-tailed critical region?
What four steps should be used in evaluating expressions? Could these steps be skipped or rearranged? Explain your answersr.
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