A manager for an insurance company believes that customers have the following pr

Question

A manager for an insurance company believes that customers have the following preferences for life insurance products: 30% prefer Whole Life, 20% prefer Universal Life, and 50% prefer Life Annuities. The results of a survey of 230 customers were tabulated. Is it possible refute the sales manager's claimed proportions of customers who prefer each product using the data? Step 1 of 10: State the null and alternative hypothesis. H0 : Preferences for life insurance products are as per the manager's belief. Ha: Preferences for life insurance products are not as per the manager's belief H0: Preferences for life insurance products are not as per the manager's belief. Ha: Preferences for life insurance products are as per the manager's belief.

Explanation / Answer

Null hypothesis always includes equality sign. So, it includes the claim that the preference for life insurance products are as per manager's belief.

Alternate: preference for life insurance products are not as per manager's belief.

Answer:

H0 : Preferences for life insurance products are as per the manager's belief.

Ha: Preferences for life insurance products are not as per the manager's belief.

(First option)

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