According to the Kaiser Family Foundation, U.S. workers who had employer-provided health insurance paid an average premium of $4129 for
According to the Kaiser Family Foundation, U.S. workers who had employer-provided health insurance paid an average premium of $4129 for family health insurance coverage during 2011 (USA TODAY, October 10, 2011). Suppose a recent random sample of 25 workers with employer-provided health insurance selected from a city paid an average premium of $4517 for family health insurance coverage with a standard deviation of $580. Assume that such premiums paid by all such workers in this city are normally distributed. Does the sample information support the alternative hypothesis that the average premium for such coverage paid by all such workers in this city is different from $4129? Use a 5% significance level. Use both the p-value approach and the critical-value approach.
The first two steps the calculation of the observed value of the test statistic and the …View the full answer
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