Purchase Solution

Parametric Statistics and Confidence Intervals

Not what you're looking for?

Ask Custom Question

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 160 respondents are contained in the Excel spreadsheet that is included. Click on the icon below and an Excel sheet will appear! Use Excel to analyze the data.

a. Graph out each of the 5 variables in a histogram. Display both the C1 and C2 data on the same graph. What can you see from these graphs?
b. Create 95% confidence intervals for all 10 variables.
c. Perform 5 t-tests on the data. On which of the variables was C1 different than C2? Interpret the data and write an executive summary to C1 management describing your findings.

Attachments
Purchase this Solution
Solution Summary

Students t-test and confidence intervals for insurance carriers data. Null Hypothesis, Alternative Hypothesis, Significance Level, Critical Value,and P value are given in the solution.

Purchase this Solution
Free BrainMass Quizzes
Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

View More Free Quizzes
Related BrainMass Solutions

  • Descriptive Statistics or Inferential Statistics

    61845 Are Confidence intervals part of descriptive statistics or inferential statistics- why? Are Confidence intervals part of descriptive statistics or inferential statistics- why? Why would we use confidence intervals instead of point estimates?

  • Chi Square Distribution Differences

    A z-statistic, on the other hand is very versatile and is used in hypothesis testing of means, proportions, creating confidence intervals, testing for regression etc, provided the underlying population follows a normal distribution.

  • Data Falling on a Normal Distribution

    Since the order does not have to have specified intervals, such as birth order in a family, then the tests for ordinals do not have regression or fall in confidence intervals.

  • formal hypothesis testing

    How are parametric and nonparametric statistics different? How are parametric and nonparametric statistics similar? First let us clarify what the formal hypothesis is testing.

  • Confidence Intervalss

    Calculate and interpret 90%, 95%, and 99% confidence intervals for both groups of approaches. Also provide 90%, 95%, and 99% confidence intervals for both groups when the sample size is increased from 10 to 50. Interpret all statistics

  • Confidence Intervals, Differences Between T And Z Distribution

    .html The confidence intervals and the differences between T and Z distributions are examined.

  • Analysis of GEYSER Data

    Calculate the 95% and 99% Confidence Intervals for the interruption time of the two groups. 14. Develop a regression model for the entire dataset AND for the two individual groups (total of 3 models). What can you infer from them? 15.

  • Hypothesis Testing, Confidence Intervals and Levels of Significance

    130604 Hypothesis Testting, Confidence Intervals and Levels of Significance In a statistics lecture, students are asked whether or not they enjoyed doing statistics.

  • Parametric and Nonparametric tests

    292574 Statistics: Explain nonparametric tests and why they were developed. There are many nonparametric tests that have been developed over the years. Explain what nonparametric tests are and why they were developed.

  • Nonparametric test method for a given data set

    (www.statsoft.com/textbook/nonparametric-statistics/) Therefore, non-parametric methods are used instead.

View More Related Solutions