he records of a casualty insurance company show that, in the past, its clients have had a mean of 1.7 auto accidents per day with a standard deviation of 0.06 . The actuaries of the company claim that the standard deviation of the number of accidents per day is no longer equal to 0.06 . Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis H0 and the alternative hypothesis H1 that we would use for this tes
he records of a casualty insurance company show that, in the past, its clients have had a mean of 1.7 auto accidents per day with a standard deviation of 0.06 . The actuaries of the company claim that the standard deviation of the number of accidents per day is no longer equal to 0.06 . Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis H0 and the alternative hypothesis H1 that we would use for this tes
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.2: Expected Value And Variance Of Continuous Random Variables
Problem 10E
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The records of a casualty insurance company show that, in the past, its clients have had a mean of
. The actuaries of the company claim that the standard deviation of the number of accidents per day is no longer equal to
. Suppose that we want to carry out a hypothesis test to see if there is support for the actuaries' claim. State the null hypothesis
and the alternative hypothesis
that we would use for this test.
1.7 auto accidents per day with a standard deviation of 0.06
0.06
H0
H1
|
H0
?
H1
?
|
Expert Solution
Step 1
The null hypothesis can be defined as the hypothesis of no difference or equality, while the alternative hypothesis can be defined as the claim we are testing.
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