During a period of one month, a random sample of 27 approved life insurance poli

Question

During a period of one month, a random sample of 27 approved life insurance policies is selected, and the total processing time, in days, is recorded as shown in the data table below. Complete parts (a) through (d). Click the icon to view the data table a. In the past, the mean processing time was 56 days. At the 0.01 level of significance, is there evidence that the mean processing time has changed from 56 days? State the null and alternative hypotheses. More Info Determine the test statistic. The test statistic is -2.398 Round to four decimal places as needed.) Find the p-value Total processing time, in days 75 19 16 64 28 28 31 90 61 52 39 56 22 18 57 55 18 17 17 9183 63 50 51 69 16 17 p-value = .0239 (Round to four decimal places as neede Print Done State the conclusion. | Ho. There is | evidence to conclude that the mean processing time has changed from 56 days. Reject Do not reject iswer(s) and then click Check Answer.

Explanation / Answer

Conclusion
Do Not Reject H0. There is insuffcient evidence that the mean Processing time has changed from 56 days.( Because P value of 0.0239 is greater than significance level of 0.01)

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