Problem 3
Given the following data related the premium charged for a life insurance of 2 million-dollars.
Age group Male Non Smoker Male Smoker Female Non Smoker Female Smoker
18 to 35 $12 $16 $11 $14
35 to 40 $24 $30 $20 $26
40 to45 $48 $60 $40 $54
45 to 50 $90 $100 $80 $95
50 to 55 $180 $200 $160 $190
55 to 60 $360 $400 $320 $380
60 to 65 $720 $750 $700 $740
65 to 70 $1,400 $1,500 $1,200 $1,450
70 to 75 $3,000 $3,500 $2,800 $3,200
75 to 80 $8,000 $9,000 $7,500 $8,500
Based on the above data, set a number of hypothesis that you may be able to test.
Specify clearly the analysis technique you use to answer the hypothesis.
Conduct the test for each of your hypothesis.
How is One way Anova different form block Anova and Two Factor Anova as far as application and variance partition.