Final Exam, Fall 2017 ECON 300 Student I 1. The following is a partial ANOVA tab

Question

Final Exam, Fall 2017 ECON 300 Student I 1. The following is a partial ANOVA table regarding the service satisfaction on five auto body shop Meme customers were surveyed. Use a-0.05 d.f Mean Source Between groups within Groups Total Sum of Squares 15.8 29 2 a. Complete the table by filling in missing information (marked as ?). b. State the null hypothesis and the alternative hypothesis. Ho: c. What is the value of statistic? d. What is your conclusion regarding the service satisfaction among five shops? 2. An insurance company recorded the mean damage for a natural disaster in its area was $520. After introducing several plans to prevent loss, it randomly samples 49 policyholders and finds the mean amount per claim was S5 10 with a standard deviation of $70. Use .05, can we concluded the prevention plans were effective in reducing the mean amount of claim? a. State the null and alternative hypotheses. Ho: b. What is the critical value of the test? c. What is the decision rule? d. Using the critical value approach, state your decision regarding Ho

Explanation / Answer

2 , Given that

mu = 520
n = 49
xbar = 510
sd = 70

H0 : the prevention plans were not effective in reducing the mean amount of claim

H1 : the prevention plans were effective in reducing the mean amount of claim

the critical value is

alpha = 0.05 , we see the value from the z table as
-1.644

we calculate the z stat as

z = (xbar-mu)/(sd/sqrt(n))
= (510-520)/(70/sqrt(49)) = -1

as the z stat is less than the z critical , hence we fail to reject the null hypothesis and conclude that the prevention plans were not effective in reducing the mean amount of claim

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