John Maynord pays a $566.00 annual insurance premium. This represents 40% of the total premium. The rest of the premium is paid
2 answers:
Answer:
A. 60%
B. $1415
C. $849.
Step-by-step explanation:
We have been given that John Maynord pays a $566.00 annual insurance premium. This represents 40% of the total premium. The rest of the premium is paid by his employer.
A. Since John pays 40% of his premium and rest of the premium is paid by his employer. This means that his employer pays 60% (100-40) of the premium, therefore, the company's percentage will be 60%.
B. Let x be the total amount of the premium.
As 40% of the premium is $566, so we need to find x such that 40% of x is $566.
We can represent this information in an equation as:
Therefore, the total amount of premium is $1415.
C. As company pays 60% of premium, so to find the company's payment we will find 60% of $1415.
Therefore, the company's payment is $849.
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Answer:
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to fail reject the null hypothesis, so we can conclude that the mean age is significantly higher than 45 years at 5% of significance.
Step-by-step explanation:
1) Data given and notation
represent the mean height for the sample
represent the sample standard deviation for the sample
sample size
represent the value that we want to test
represent the significance level for the hypothesis test.
t would represent the statistic (variable of interest)
represent the p value for the test (variable of interest)
State the null and alternative hypotheses.
We need to conduct a hypothesis in order to check if the mean age is higher than 40 years, the system of hypothesis would be:
Null hypothesis:
Alternative hypothesis:
If we analyze the size for the sample is < 30 and we don't know the population deviation so is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:
(1)
t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".
Calculate the statistic
We can replace in formula (1) the info given like this:
P-value
The first step is calculate the degrees of freedom, on this case:
Since is a one right tailed test the p value would be:
Conclusion
If we compare the p value and the significance level given we see that
so we can conclude that we have enough evidence to fail reject the null hypothesis, so we can conclude that the mean age is significantly higher than 45 years at 5% of significance.