Math Solutions

(All Steps) An insurance company states that 75% of its claims are settled within 5 weeks. A consumer group selected a random sample of 50 of the company’s claims

Question: An insurance company states that 75% of its claims are settled within 5 weeks. A consumer group selected a random sample of 50 of the company’s claims and found 35 of the claims were settled within 5 weeks. Is there enough evidence to support the consumer group’s claim that fewer than 75% of the claims were settled within 5 weeks? Test using the traditional approach with = 0.05 (6 pts)

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