Consider the Following to Answer the Question(s) Below

question 5

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 null and alternative hypotheses are

• A) H0 : µ = 77 and HA : µ > 77.
• B) H0 : µ = 77 and HA : µ < 77.
• C) H0 : µ = 77 and HA : µ ≠ 77.
• D) H0 : µ ≠ 77 and HA : µ = 77.
• E) H0 : µ > 77 and HA : µ = 77

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Definitions:

B-24 Medium Bombers

The B-24 Liberator, an American heavy bomber aircraft used extensively during World War II, noted for its long-range bombing capabilities and high payload.

Ford

An American multinational automaker founded by Henry Ford, known for revolutionizing the automobile industry with assembly line production methods.

Operant Conditioning

A type of learning in which a behavior becomes more likely to recur if followed by a reinforcer or less likely to recur if followed by a punisher.

Respondent Behavior

Behavior that occurs as an automatic response to some stimulus.