During a period of one month, a random sample of 27 approved life insurance policies is selected, and the total processing time, in days, is recorded as shown in the data table below.
Total processing time, in days
|
|
70
|
19
|
16
|
64
|
28
|
28
|
31
|
90
|
56
|
51
|
34
|
56
|
22
|
18
|
|
53
|
42
|
23
|
17
|
17
|
91
|
86
|
63
|
50
|
51
|
69
|
16
|
17
|
|
1. In the past, the mean processing time was
42
days. At the
0.01
level of significance, is there evidence that the mean processing time has changed from
42
days?
State the null and alternative hypotheses.
H0:
H1:
Determine the test statistic.
The test statistic is ____. (round to four decimal places as needed.)
Find the p-value
p-value= ____ (Round to four decimal places as needed.)
State the conclusion.
__A____ H0. There is __B___ evidence to conclude that the mean processing time has changed from 42 days.
A: Reject or do not reject
B: insufficient or sufficient