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Mathematics, 30.03.2020 22:39 KAITLYN007
An insurance company analyst wants to test the hypothesis that the average amount claimed by its policy holders over one year is $800 against the alternative that is less than $800. A random sample of 169 policy holders reveals that the sample mean claim is $739.98 and the sample standard deviation is $312.70. Perform this test at a 5% error level.
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