Insurance: Hail Damage Nationally, about 11% of the total
Chapter , Problem 13(choose chapter or problem)
Insurance: Hail Damage Nationally, about 11% of the total U.S. wheat crop is destroyed each year by hail (Reference: Agricultural Statistics, U.S. Department of Agriculture). An insurance company is studying wheat hail damage claims in Weld County, Colorado. A random sample of 16 claims in Weld County gave the following data (% wheat crop lost to hail).
The sample mean is \(\overline{x} = 12.5%\). Let x be a random variable that represents the percentage of wheat crop in Weld County lost to hail. Assume that x has a normal distribution and \(\sigma = 5.0%\). Do these data indicate that the percentage of wheat crop lost to hail in Weld County is different (either way) from the national mean of 11%? Use \(\alpha = 0.01\).
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