The president of the American Insurance Association is interested in comparing the yearly cost of au


Question: The president of the American Insurance Association is interested in comparing the yearly cost of auto insurance offered by two leading companies. She randomly selected a sample of 12 families, some with only a single driver, others with several teenagers, and offered one free family car insurance policy to contact the two companies and ask for a price quote. In order to make the data comparable, certain features, such as the amount of the deductible, are standardized. The sample information is listed below:

Family United Car Insurance Southwest Mutual Insurance
1 $1,850 $1,480
2 960 770
3 2,240 2,110
4 1,900 2,000
5 660 700
6 1,800 1,560
7 2,650 2,580
8 720 1,070
9 1,010 1,250
10 840 720
11 1,450 1,260
12 1,320 1,420

a. At the 10% significance level, can we conclude that there is a statistically significant difference in the amount of quoted?

b. Determine the p-value in part (a) and interpret its meaning. Use Excel for your p-value.

c. Use SPSS and Microsoft Excel to solve this problem and compare the computer printout with your answers to previous parts.

Price: $2.99
Answer: The solution consists of 4 pages
Type of Deliverable: Word Document

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