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Mathematics, 12.09.2021 03:20 TaraC
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 deductible amount and limits of liability, are standardized. The data for the sample of families and their two insurance quotes are reported below. At the 0.10 significance level, can we conclude that there is a difference in the amounts quoted? Hint: For the calculations, assume the "Midstates Car Insurance" as the first sample. Midstates Car Gecko Mutual Family Insurance Insurance Becker $ 2,090 $ 1,610 Berry 1,683 1,247 Cobb 1,402 2,327 Debuck 1,830 1,367 DuBrul 930 1,461 Eckroate 697 1,789 German 1,741 1,621 Glasson 1,129 1,914 King 1,018 1,956 Kucic 1,881 1,772 Meredith 1,571 1,375 Obeid 874 1,527 Price 1,579 1,767 Phillips 1,577 1,636 Tresize 860 1,188
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