Consider the Following to Answer the Question(s) Below

question 31

Short Answer

Consider the following to answer the question(s) below:
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. Last year the average life expectancy of all policyholders was 77 years. ABI Insurance wants to determine if their clients now have a longer life expectancy, on average, so they randomly sample some 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.

-Write the null and alternative hypotheses.

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Definitions:

Federal Securities Laws

Laws in the United States that regulate the offer and sale of securities to protect investors against fraud.

Information Technology

The use of computers, networks, and related technologies to store, retrieve, transmit, and manipulate data or information.

Latin American

Pertains to countries in the Americas where Romance languages, primarily Spanish and Portuguese, are spoken.