Solved

Automobile Insurance Appraisers Examine Cars That Have Been Involved in Accidental

Question 116

Essay

Automobile insurance appraisers examine cars that have been involved in accidental collisions and estimate the cost of repairs. An insurance executive claims that there are significant differences in the estimates from different appraisers. To support his claim he takes a random sample of six cars that have recently been damaged in accidents. Three appraisers then estimate the repair costs of all six cars. From the data shown below, can we infer at the 5% significance level that the executive's claim is true?  Estimated repair cost  Car  Appraiser 1  Appraiser 2 Appraiser 3 1650600750293091010103440450500475071081051190105012506156012701450\begin{array} { | c | c | c | c | } \hline & &{ \text { Estimated repair cost } } \\\hline \text { Car } & \text { Appraiser 1 } & \begin{array} { c } \text { Appraiser } \\2\end{array} & \text { Appraiser 3 } \\\hline 1 & 650 & 600 & 750 \\\hline 2 & 930 & 910 & 1010 \\\hline 3 & 440 & 450 & 500 \\\hline 4 & 750 & 710 & 810 \\\hline 5 & 1190 & 1050 & 1250 \\\hline 6 & 1560 & 1270 & 1450 \\\hline\end{array}

Correct Answer:

verifed

Verified

\[\begin{array} { | l | c | c | c | c | ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents