Dr Nick

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    Kaplan University
    Apr-2009 - Mar-2014

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  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Business & Finance Posted 15 Jun 2017 My Price 13.00

A statistical analyst who works for a large insurance company

A statistical analyst who works for a large insurance company is in the processof examining several pension plans. Because the length of life of the pension plan holders iscritical to the plans’ integrity, the analyst needs to know if the mean age has changed. In the last census (1991), suppose the mean age of retirees is 67.5. To determine whether the meanage has increased, the analyst selects a random sample of 100 retirees and finds that ¯x = 68.2.If we assume that the population standard deviation is σ = 3.1, can we conclude withα = .05 that there is evidence to indicate the mean age of retirees has increasedsince 1991? Provide both rejection region and p-value.

 

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Dr Nick
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Status NEW Posted 15 Jun 2017 06:06 AM My Price 13.00

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