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Anystate Auto Insurance Company took a random sample of 374 insurance claims paid out during a...

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Statistics

Anystate Auto Insurance Company took a random sample of 374insurance claims paid out during a 1-year period. The average claimpaid was $1600. Assume σ = $264. Find a 0.90 confidence intervalfor the mean claim payment. (Round your answers to two decimalplaces.) lower limit $ upper limit $ Find a 0.99 confidenceinterval for the mean claim payment. (Round your answers to twodecimal places.) lower limit $ upper limit $

Answer & Explanation Solved by verified expert
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Solution Given that 1600 264n 374At 099confidence level    See Answer
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