Question: Question 14

In New York State, saving banks are permitted to sell a form of life insurance called Savings Bank Life Insurance. During a period of 1 month, a random sample of 27 approved policies was selected. The total processing time in days was recorded with the following results:

73 19 16 64 28 28 31 90 60 56

31 56 22 18 45 48 17 17 17 91

92 63 50 51 69 16 17

In the past, suppose that the mean processing time averaged 45 days. At the 0.05 level of significance, is there evidence that the mean processing time has changed from 45 days?