Description
Week 3 Discussion
Respond to the bulleted items)
- From the e-Activity, the table shows Average Insurance Costs by State. Select two (2) states that are of interest to you. Next, speculate on three (3) possible reasons why the states you have chosen would have a difference in average insurance costs.
- From the e-Activity, select ten (10) states and calculate the mean and standard deviation for average insurance costs. Next, calculate the mean and standard deviation for average insurance costs for all 51 states. Compare and contrast the means and standard deviations for the ten (10) states you selected and all fifty one (51) states.
Explanation & Answer
Hi! Please see the following file. It is already complete with discussion and computations - I already embedded an Excel file for the computation :)
Auto Insurance Costs
1. From the e-Activity, the table shows Average Insurance Costs by State. Select two
(2) states that are of interest to you. Next, speculate on three (3) possible reasons
why the states you have chosen would have a difference in average insurance costs.
Two of the most interesting states to consider are the state of Michigan and the
state of Vermont. As can be seen from the data, Michigan has the highest annual
insurance cost while Vermont has the lowest. It is very interesting to see that the
difference is enormous – considering that the annual insurance cost for Michigan is
$2,541 while Vermont only costs around $995. The difference is more than double
between the states which tells that there really are attributable factors that ac...
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