Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a 1-year period. The average claim paid was $1570. Assume

jernplate8

jernplate8

Answered question

2021-07-05

Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a 1-year period. The average claim paid was $1570. Assume σ math=$250. Find 0.90 and 0.99 confidence intervals for the mean claim payment.

Answer & Explanation

Corben Pittman

Corben Pittman

Skilled2021-07-06Added 83 answers

Mean μ
90%: 1548.6201 to 1591.3799
95%: 1536.5330 to 1603.4670

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