Motor Vehicle Insurance Appraisers Examine Cars That Have Been Involved

question 61

Essay

Motor vehicle insurance appraisers examine cars that have been involved in accidental collisions to assess the cost of repairs. An insurance executive is concerned that different appraisers produce significantly different assessments. In an experiment, 10 cars that had recently been involved in accidents were shown to two appraisers. Each assessed the estimated repair costs. The results are shown below. $$\begin{array} { | l | l | l | } \hline \text { Car } & \text { Appraiser 1 } & \text { Appraiser 2 } \\\hline 1 & 1650 & 1400 \\\hline 2 & 360 & 380 \\\hline 3 & 640 & 600 \\\hline 4 & 1010 & 920 \\\hline 5 & 890 & 930 \\\hline 6 & 750 & 650 \\\hline 7 & 440 & 410 \\\hline 8 & 1210 & 1080 \\\hline 9 & 520 & 480 \\\hline 10 & 690 & 770 \\\hline\end{array}$$ Can the executive conclude at the 5% significance level that the appraisers differ in their assessments?

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Definitions:

Evaluation

The systematic process of determining the merit, worth, or value of something, often for purposes of decision-making.

Education Act

Legislation that governs the education system within a specific jurisdiction, setting out the rights and responsibilities of students, teachers, and other stakeholders.

Intelligence Testing

The assessment of an individual's cognitive capabilities and potential using standardized tests.

Achievement Testing

A method of assessing an individual's knowledge or proficiency in a particular area or subject.