As a Step in Establishing Its Rates,an Automobile Insurance Company

question 22

True/False

As a step in establishing its rates,an automobile insurance company is interested in determining whether there is a difference in the mean highway speeds that drivers of different age groups drive.To help answer this question,it has selected a random sample of drivers in three age categories: under 21,21-50,and over 50.The engineers then recorded the drivers' speeds at a designated point on a highway in the state.The subjects were unaware that their speed was being recorded.The following one-way ANOVA output was generated from the sample data.Based upon this output,it is possible that a Type II statistical error has been committed if the null hypothesis is tested at the alpha equal 0.05 level.
ANOVA: Single Factor

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Definitions:

Terminated Project

A project that has been ended prior to its completion due to various reasons such as feasibility, costs, or changes in strategy.

Demand-Pull Inflation

Inflation that occurs when aggregate demand in an economy outweighs aggregate supply, leading to an increase in prices.

Cost-Push Inflation

It occurs when the overall prices in an economy increase due to rising costs of wages and raw materials.

Employment

A state of having a paid job or occupation, contributing to an economy's workforce.