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:

Relative Superiority

The concept of being better or having more advantage in comparison to others based on specific criteria or standards.

Individual Mobility

The ability of an individual to move within or between social strata or occupational positions in a society.

Stereotype Threat

The risk of confirming, as self-characteristic, a negative stereotype about one's group, which can reduce the performance in affected individuals.

Self-Fulfilling

Self-fulfilling refers to a prediction or expectation that causes itself to become true due to the behavior that it inspires.