Average Insurance Costs by State
average cost, stand deviation
Please respond to one (1) of the following two (2) bulleted items:
- From the 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 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 (including Washington, D.C.). Compare and contrast the means and standard deviations for the ten (10) states you selected and all 51 states.
E Activity link: https://www.cbsnews.com/news/a
Answer previewI choose Michigan and Maine. Michigan and Maine have a lot in common. They are both woodsy states bordering with Canada. They are also known for hosting visitors especially during summer vacations, and outdoor adventures. No major industrial activities take place in these countries. Surprisingly, the significant difference they have is the average insurance cost, Michigan charging higher rates of $2,541annually. On the other hand, Maine has the cheapest insurance costs which average to $ 1,126 annually. There are various reasons which have aggravated to the high disparity among the above three states…
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