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Anystate Auto Insurance Company took a random sample of 386 insurance claims paid out during a...

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Question

Statistics

Anystate Auto Insurance Company took a random sample of 386insurance claims paid out during a 1-year period. The average claimpaid was $1585. Assume σ = $256.

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

lower limit $

upper limit $

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

lower limit $

upper limit $

please explain how to get the z score using the table. I can notfigure it out.

please do not use excel. I am trying to learn how to dothis.

Answer & Explanation Solved by verified expert
3.8 Ratings (533 Votes)
SolutionGiven in the questionPopulation mean 1585Population standard deviation 256Number of sample n 386Confidence interval can be calculated as Zalpha2 sqrtnSolutionaat    See Answer
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