# An insurance company is considering opening a new

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Chapter 10 / Exercise 1
Statistics Unplugged
Caldwell
Expert Verified
11.An insurance company is considering opening a new branch in Lansing. The company will choose the final location from two locations within the city. One of the factors in the decision is the annual family income (in thousands of dollars) of five families randomly sampled from a radius of five miles from the potential locations.Perform equal-variances t-test at the 5% significance level to determine whether the population means differ.What is the t-statistic?______________Reject Region: Reject H0 if |t| > ______________Conclusion: ______________The population means ______________ differ.Perform an F-test for one-way ANOVA at the 5% level of significance to determine whether the population means differ.What is the F-statistic?______________Reject Region: Reject H0 if |F| > ______________Conclusion: ______________
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Chapter 10 / Exercise 1
Statistics Unplugged
Caldwell
Expert Verified
The population means ______________ differ.What is the relation between the observed tand observed Ftest statistics from the previous two questions?F= ______________Does the same relation hold true for the corresponding critical values?______________If we want to determine whether the population mean income for area 2 is higher than that for area 1, can we still use both the tand F-tests applied in the previous questions?______________Explain.______________
PTS:1