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Anystate Auto Insurance Company took a random sample of 364 insurance claims paid out during a...

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Question

Basic Math

Anystate Auto Insurance Company took a random sample of 364insurance claims paid out during a 1-year period. The average claimpaid was $1525. Assume σ = $258.

Find a 0.90 confidence interval for the mean claim payment. (Roundyour answers to two decimal places.)

lower limit    $
upper limit    $


Find a 0.99 confidence interval for the mean claim payment. (Roundyour answers to two decimal places.)

lower limit    $
upper limit    $

Answer & Explanation Solved by verified expert
4.0 Ratings (447 Votes)
SolutionGivenSample Size n 364Sample Mean Population Standard Deviation Part a Find a 090 confidence interval for themean claim paymentwhereZc is z critical value for c 90 confidencelevelFind Area 1 c 2 1 090 2 190 2    See Answer
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