The president of the American Insurance Institute wants to compare the yearly costs of auto insuranc


Question: The president of the American Insurance Institute wants to compare the yearly costs of auto insurance offered by two leading companies. He selects a sample of 15 families, some with only a single insured driver, others with several teenage drivers, and pays each family a stipend to contact the two companies and ask for a price quote. To make the data comparable, certain features, such as the amount deductible and limits of liability, are standardized. The sample information is reported below. At the .10 significance level, can we conclude that there is a difference in the amounts quoted?

Family Progressive Car Ins. Geico
Becker Berry Cobb Debuck DuBrul Eckroate German Glasson King Kucic Meredith Obeid Price Phillips Tresize $2,090 1683 1402 1830 930 607 1741 1129 1018 1881 1571 874 1579 1577 860 $1610 1247 2327 1367 1,461 1789 1621 1914 1956 1772 1375 1527 1767 1636 1188
Price: $2.99
See Solution: The solution file consists of 3 pages
Deliverables: Word Document

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