Does where you live affect your insurance rate? The mean auto insurance rate for 24 drivers...
Does where you live affect your insurance rate? The mean auto insurance rate for 24 drivers in a large city is $1,818 per car with a standard deviation of $366 while the mean rate for 28 drivers in a rural area is $1,633 with a standard deviation of $242. At α = 0.01, can we conclude that drivers in the large city pay higher insurance rates than those in the rural area, assuming the population variances are equal?
T-Distribution Table
a. Calculate the test statistic.
t=t=
Round to three decimal places if necessary
b. Determine the critical value(s) for the hypothesis test.
- +
Round to three decimal places if necessary
c. Conclude whether to reject the null hypothesis or not based on the test statistic.
Reject
Fail to Reject
Homework Answers
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Does where you live affect your insurance rate? The mean auto
insurance rate for 24 drivers...
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