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:

Reviewing Newspapers Online

The act of examining, analyzing, and assessing newspapers that are available on the internet.

Public's Right

The entitlements and freedoms that the public or individuals within a society are guaranteed by law or social agreement.

Substantially Complete

A condition in which a project or task has been completed to a degree that it can effectively be used for its intended purpose, even if minor details remain unfinished.

Imbalanced

A state or condition where things are not equal or in correct proportions.