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 3 of 10: State the null and alternative hypothesis in terms of the expected proportions for each category. P Universal P Annuities Ha: There is some difference amongst the proportions.

Explanation / Answer

Ste up Hypothesis:

Null: P whole = 0.30 , P Universal = 0.20 , P Annuities = 0.50,

Ha : There is some diffrencce amongst the proportions

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