You are a manager working for an insurance discussion help
You are a manager working for an insurance
company. Your job entails processing individual claims filed by
policyholders. In general, most claims are relatively minor, costwise,
but a few are quite expensive. Each quarter, you compile a report
summarizing key claims statistics that includes the number of claims
submitted, the mean cost per claim, the median cost per claim, the
proportion of claims being litigated, the number of emergency
procedures, the proportion of men versus women, and the average age of
claimants. Your measures are computed separately for the southern and
northern regions, and you are interested in determining whether or not
there are statistically significant differences between the two regions
on each of the aforementioned measures.
- Evaluate which comparisons would require the use of the t-test and which would use the chi-squared test.
- Explain your answers. Support your discussion with relevant examples, research, and rationale. 500 words