Part 1. Suppose you are told that a 95% confidence interval forthe average price of a gallon of regular gasoline in your state isfrom $2.99 to $3.99. Use the fact that the confidence interval forthe mean is in the form x − E to x +E to compute the sample mean and the maximal margin oferror E. (Round your answers to two decimal places.)
Part 2. Anystate Auto Insurance Company took a random sample of380 insurance claims paid out during a 1-year period. The averageclaim paid was $1510. Assume σ = $254.
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
