COMMERCE 2QA3 Lecture 13: 13___
17 Dec 2015
School
Department
Course
Professor
Document Summary
Chapter 13: confidence intervals and hypothesis tests for means. 76 85 70 76 79 81 73 74 72 83: write the null and alternative hypotheses. Answer: h0 : = 77 and ha : > 77. : 2: in this context, describe the type i error possible. Answer: a type i error would be concluding that the average life expectancy has increased, when in fact it has not. The company would change its premium structure when it was not necessary. Answer: a type ii error would be failing to detect an increase in the average life expectancy, when in fact it has. The company would miss an opportunity to change its premium structure when it was necessary. 1: state your conclusion using = 0. 05. Answer: we fail to reject the null hypothesis. Abi insurance shouldn"t need to change their premiums because there is little evidence to indicate an increase in average life expectancy.
