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

question 120

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.Before actually testing the central hypothesis involving the mean speeds,if a hypothesis test is conducted to determine whether the population variances are equal using a significance level equal to 0.05,the critical value is approximately F = 2.95.
Anova: Single Factor
SUMMARY ANOVA

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Definitions:

Central Route

A method of persuasion that involves deep thinking and the logical processing of information, leading to lasting attitude change.

Persuasion

The act of convincing others to change their mind or take a certain action through effective communication or argumentation.

Long Lasting

Refers to something that endures or persists over a long period of time without significant degradation or loss of quality.

Relevant

Pertaining to or connected with the matter at hand; being of significance or importance within a specified context.