# Confidence interval estimation

The data that you will be using for this exercise came from a survey of two insurance carriers.

The first carrier (C1) was compared against the second competitor (C2). The insurance company management team

wants to know how Carrier 1 compared to the second carrier. Data from 159 respondents are included.

All of the 5 questions are rated on a scale of 1 to 5, with 1 being "much worse" and 5 being "much better"

1. Graph the 5 main survey variables in a histogram. For each graph you are going to graph out the data values, grouped by responses. You should have categories that are the responses 1-5. You should have 5 histograms, and on each, display both the C1 and C2 data on the same graph. What can you see from these graphs?

2. Create 95% confidence intervals for the mean for the 5 survey variables on Carrier 1.

3. Perform 5 t-tests on the data comparing C1 to C2 on each of the 5 questions. Indicate which of the 5 variables has a difference between C1 and C2.

4. Interpret the data and write an brief (2 paragraph) executive summary to C1 management describing your findings.

© BrainMass Inc. brainmass.com December 15, 2020, 4:08 pm ad1c9bdddfhttps://brainmass.com/statistics/confidence-interval/confidence-interval-estimation-233651

#### Solution Summary

The solution provides step by step method for the calculation of confidence interval . Formula for the calculation and Interpretations of the results are also included.