Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. anystate auto insurance company took a random samp

Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a...

80.2K

Verified Solution

Question

Statistics

Anystate Auto Insurance Company took a random sample of 370insurance claims paid out during a 1-year period. The average claimpaid was $1535. Assume σ = $254.

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

lowerlimit    $  
upperlimit    $  


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

lowerlimit    $
upper limit  

Answer & Explanation Solved by verified expert
4.3 Ratings (538 Votes)
SolutionGiven that1535 254n 370a At 90 confidence level the z is 1 90 1 090 010 2 010 2 005Z2 Z005    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

ABC ins's first quarterly dividend of 2$/share is expected to be paid nine months from today....

Statistics
1.2K views

Let x be the average number of employees in a group health insurance plan, and let...

Chemistry
1.2K views

It’s stated that a H2 molecule is glued together by a pair of electrons. Now you...

Biology
1.2K views

Does freezing influence the stability of mayonnaise? Why?

Calculus
1.2K views

6 Find the foci for a c x 6 y 7 9 25 1 F...

Algebra
1.2K views

Question 38 of 60 Sabrina s family held a garage sale last weekend They recorded...

Accounting
1.2K views

Suppose there is only 1 pizzeria in Smalltownsville and it is therefore a monopolist. The...

Accounting
1.2K views

Michelin Jewelers uses the perpetual inventory system. On April 2, Michelin sold merchandise for $50,000...

Accounting
1.2K views

if sales are over reporting by false credit at the end of the year where...

Finance
1.2K views

i would like all these to be typed out. please dont post pictures of work...

Accounting
1.2K views

D) You are evaluating an investment project, Project VV, with the following cash flows Period...

Accounting
1.2K views

When choosing between two alternatives, what of the following are relevant costs? A. future variable...