Essay
In 2010, the mean expenditure for auto insurance in a certain state was $806. An insurance salesperson in this state believes that the mean expenditure for auto insurance is less today. She obtains a simple random sample of 32 auto insurance policies and determines the mean expenditure to be $781 with a standard deviation of $39.13. Is there enough evidence to support the claim that the mean expenditure for auto insurance is less than the 2010 amount at the ? = 0.05 level of significance?
Correct Answer:
Verified
Correct Answer:
Verified
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