Anystate Auto Insurance Company took a random sample of 368
insurance claims paid out during a...
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Anystate Auto Insurance Company took a random sample of 368insurance claims paid out during a 1-year period. The average claimpaid was $1585. Assume ? = $242.
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
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Solution Given that 1585 242n 368a At 090 confidence level the z is 1 090 010 2 010 2 005Z2
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