Mathematics, 02.12.2020 01:40 janny48
A new actuarial test (Test A) was developed as a possible replacement for an old actuarial test (Test B). An actuary claimed that the mean time to complete the new test A was more than the mean time to complete an old test B. The summary data for completion time (in minutes) are as follows.
Test A : n=9, X bar=160 minutes, S2=180 minutes
Test B : n=10 X bar=150 minutes, S2=30 minutes
a. At α=10%, use the Classical approach to test the actuary’s claim.
b. Using the P-value approach to conclude it.
Answers: 1
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A new actuarial test (Test A) was developed as a possible replacement for an old actuarial test (Tes...
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