PLSSSSSSSS HELP CORRECT ANSWER GETS BRAINLIEST Answers 1.A 2.B 3.C
1 answer:
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Answer:
<em>The age at which both companies charge the same premium is 44 years</em>
Step-by-step explanation:
<u>Graph Solution to System of Equations</u>
One approach to solving systems of equations of two variables is the graph method.
Both equations are plotted in the same grid and we find the intersection point(s) of both graphs. Those are the feasible solutions.
The annual premium p as a function of the client's age a for two companies are given as:
Company A: p= 2a+24
Company B: p= 2.25a+13
The graphs of both functions are shown in the image below.
The red line indicates the formula for Company A and the blue line indicates the formula for Company B.
It can be seen that both lines intersect in the point with approximate coordinates of (44,112).
The age at which both companies charge the same premium is 44 years
Answer:
a. We fail to reject the hypothesis that the average credit score for an adult in Virginia is different from the average credit score for an adult in North Carolina at the significance level of 0.05.
b. The 95% confidence interval for the true difference of means is -2.2468 and 36.2468. There is a probability of 95% that the true difference of means is between -2.2468 and 36.2468. This confidence interval contains the number 0, this is consistent with the results we got in a. Because we fail to reject the hypothesis that the average credit score for an adult in Virginia is different from the average credit score for an adult in North Carolina at the significance level of 0.05.
Step-by-step explanation:
Let be the true difference between the average credit score for an adult in Virginia and the average credit score for an adult in North Carolina. We have the large sample sizes
and
, the unbiased point estimate for
is
, i.e., 699-682 = 17.
The standard error is given by , i.e.,
= 9.8198.
a. We want to test vs
(two-tailed alternative). The rejection region is given by RR = {z | z < -1.96 or z > 1.96} where -1.96 and 1.96 are the 2.5th and 97.5th quantiles of the standard normal distribution respectively. The test statistic is
and the observed value is
. Because 1.7312 does not fall inside RR, we fail to reject the null hypothesis.
b. The endpoints for a 95% confidence interval for is given by
, i.e.,
where
is the 2.5th quantile of the standard normal distribution, i.e., -1.96, so, we have 17-(1.96)(9.8198) and 17+(1.96)(9.8198), i.e., -2.2468 and 36.2468. There is a probability of 95% that the true difference of means
is between -2.2468 and 36.2468. This confidence interval contains the number 0, this is consistent with the results we got in a. Because we fail to reject the hypothesis that the average credit score for an adult in Virginia is different from the average credit score for an adult in North Carolina at the significance level of 0.05.