Life Insurance Narrative an Insurance Company Wants to Test the Hypothesis That the Hypothesis
Essay
Life Insurance Narrative
An insurance company wants to test the hypothesis that the mean amount of life insurance held by professional men equals that held by professional women. Accordingly, two independent simple random samples are taken from appropriate professional listings of men and women. The sample of 200 men reveals a mean amount of $140,000 with a standard deviation of $26,000. The sample of 400 women shows a mean amount of $128,000 with a standard deviation of $3,000.
-Refer to Life Insurance Narrative. Calculate the value of the test statistic.
Correct Answer:
Verified
Correct Answer:
Verified
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