Consider the Following to Answer the Question(s) Below

question 10

Multiple Choice

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.

-The correct value of the test statistic is

• A) t = -1.597.
• B) t = 2.779.
• C) t = 1.597.
• D) t = 0.443.
• E) t = -2.779.

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Definitions:

Speech

The vocalized form of human communication that involves articulated sounds and words to convey messages and express thoughts.

Segments

Divisions or parts of a whole, often used to describe sections of organisms or structures within them.

Rates

Quantitative measures that represent a relationship between two quantities, showing how one quantity changes in relation to another.

Frequency

The frequency of a periodic event happening within a specified time interval.