Statistics Help Please

How do I tell if this is a mean or a proportion

1. Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. The insurance company knows that, last year, the life expectancy of its
policyholders was 77 years. They want to know if their clients this year have a longer life expectancy, on average, so the company randomly samples some of the recently paid policies to see if the mean life expectancy of policyholders has increased. The insurance company will only change their premium structure if there is evidence that people who buy their policies are living longer than before.

Ages:
86 75 83 84 81 77 78 79 79 81 76 85 70 76 79 81 73 74 72 83

Does this sample indicate that the insurance company should change its premiums because life expectancy has increased? Test an appropriate hypothesis and state your conclusion. Find and interpret a 95% confidence interval.

And how do I even start this question

  1. 👍
  2. 👎
  3. 👁
  1. It is a mean, or average. The company is using random samples to get the mean life expectancy of its policyholders.

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math

    Which ratios form a proportion? a. 4/9, 12/25 b. 3/7, 18/42 c. 5/11, 20/45 d. 5/8, 15/25 Which ratio forms a proportion with 18/30? a. 20/35 b. 50/90 c. 36/48 d. 60/100 Which proportion has cross products of 5 x 24 and 8 x 15? a.

  2. Statistics

    Of the 40 students in a gym class, 13 played volleyball, 12 ran track (4 of whom did a push up), and the remainder were absent. A.) What proportion of the class ran track? B.) What percentage played volleyball? C.) What percentage

  3. personal finance

    Which one of the following is not a financial intermediary? A. Security dealers B. Insurance companies C. Real estate investment trusts D. Pension funds D?

  4. History

    Why did business leaders begin the practice of vertical integration? A. Big companies could grow by merging w/ other companies or acquiring them. B. Factory workers could start in low positions and work their way up management. C.

  1. math plz help!!!!!!!

    which ratios form a proportion? A) 4/5 , 20/25 B) 8/12 , 18/24 C) 1/3 , 7/24 D) 2/5 , 6/16 which ratio forms a proportion with 9/15? A)3/6 B)2/3 C)12/30 D)6/10##### which proportion has cross products of 5 x 24 and 8 x 15?

  2. Math

    In the past few years, outsourcing overseas has become more frequently used than ever before by U.S. companies. However, outsourcing is not without problems. A recent survey by Purchasing magazine indicates that 20% of the

  3. accounting

    I have to prepare an adjusting entry for Dec 31, 2008 for prepaid insurance from this: An analysis of the company's insurance policies provided these facts: Policy A Purchased on April 1, 2007 for 24 month at $11400. Policy B

  4. History

    Why did business leaders begin the practice of vertical integration? A. Big companies could grow by merging with other companies or acquiring them B. Factory workers could start in low positions and work their way up to management

  1. Math

    The percentage of people not covered by health care insurance in 2003 was 15.6% (Statistical Abstract of the United States, 2006). A congressional committee has been charged with conducting a sample survey to obtain more current

  2. Insurance

    Of 500 employees of a firm 280 have a life insurance policy ,400 have a medical insurance cover and 200 participate in both programs. 1)what is the probability that a randomly selected employee will be a participant in at least

  3. Statistics

    A consumer agency wanted to investigate if four insurance companies differed with regard to the premiums they charge for auto insurance. The agency randomly selected a few auto drivers who were insured by each of these four

  4. Mathamatics

    True Or False Questions: The term insurance has no value as an investment and is the least expensive type of life insurance. Liability insurance protects a homeowner against injury to other people on his property. After these my

You can view more similar questions or ask a new question.