-
+1 - 312-224-1615
Get in touch with us
-
support@helpwithassignment.com
Send us an e-mail
Solution Library
Average Life Expectancy and ABI Insurance TrackingÂ
Question
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. Last year the average life expectancy of all policy holders that were paid out was 77 years. ABI Insurance wants to determine of their clients now have a longer life expectancy on average, so they randomly sample 101 of their recently paid policies. The insurance company will only change their premium structure if there is evidence that people who buy their policies are living longer than before. The sample has a mean of 78.6 years and a standard deviation of 4.48 years. Use a 1% significance level to answer the following.
- Write the null and alternative hypotheses.
- What is the alpha level and critical value?
- What is the value of the test statistic?
- What is the p-value of the test?
State your conclusion with evidence.
Summary
This question belongs to statistics and discusses about insurance companies tracking life expectancy information to assist in determining the cost of life insurance policies.
Word count: NA
Download Full Solution
WHAT OUR STUDENTS SAY
The services of HwA are 100% reliable and they always deliver the electric field assignment within the deadline given by me. The research work and reference is always very precise and original. I have never had any complaints with regards to the quality and originality of the work.
Richard Cooper Student
Fiona O Farrell: I often lost track of the number of variables and how many equations I needed to evaluate in order to find the values. Then I came across HwA where the experts helped me out with two or three problems and helped me get a feel of how it needs to be done. That extra assistance with my simultaneous equation problems really helped me in the long run and I did well in my final exams.
Fiona O Farrell Student
Was partying late night and forgot about my biotechnology assignment which was about to submit in 5 hours. Then approached several service providers but they refused to take up the assignment. Finally TheReliableTutor.com saved me. Submitted the assignment on time..!!!
Jordan Student
The reference material and notes provided by the online electrical engineering tutor assigned to me by HwA was exactly what I was looking for. Keeping up with the course load is difficult enough without having to run from pillar to post searching for research material. The online electrical engineering tutor at HwA made my work much easier by providing me high quality reference material which met the specifications given by my professor.
Morgan Walters Student
Corporate Finance can be a difficult topic if you do not get the proper guidance with your assignments. With TheReliableTutor I never have to worry about not understanding the corporate finance assignment material as the writing is always very lucid and absolutely comprehensible to all"
Julia Reynolds Student
Comments
this is a very good website
I have 50 questions for the same test your page is showing only 28
hi can you please help or guide me to answer my assignments. thanks
hi can anyone help or guide me to my assignments. thanks
This solution is perfect ...thanks
Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes
Perfect bank of solution.
great !
thanks for the quick response. the solution looks good. :)
thnx for the answer. it was perfect. just the way i wanted it.
works fine.