Question: Please show work on how you get P-Value The mean annual premium for automobile insurance in the United States is $1,503.1 Being from Pennsylvania, you

Please show work on how you get P-Value
The mean annual premium for automobile insurance in the United States is $1,503.1 Being from Pennsylvania, you believe automobile insurance is cheaper there and wish to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of Pennsylvania showed a mean annual premium of $1,425 with a standard deviation of s = $160. (a) Develop a hypothesis test that can be used to determine whether the mean annual premium in Pennsylvania is lower than the national mean annual premium. O o Hou 1,503 lo Hou > 1,503 : 1,503 (b) What is a point estimate in dollars of the difference between the mean annual premium in Pennsylvania and the national mean? (Use the mean annual premium in Pennsylvania minus the national mean.) $ -78 (c) At a = 0.05, test for a significant difference. Find the value of the test statistic. (Round your answer to three decimal places.) -2.44 Find the p-value. (Round your answer to four decimal places.) p-value = 0.9887 XStep by Step Solution
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