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CNNBC recently reported that the mean annual cost of auto insurance is 1032 dollars. Assume the...

CNNBC recently reported that the mean annual cost of auto insurance is 1032 dollars. Assume the standard deviation is 267 dollars. You take a simple random sample of 87 auto insurance policies.

Find the probability that a single randomly selected value is more than 974 dollars.
P(X > 974) =

Find the probability that a sample of size n=87n=87 is randomly selected with a mean that is more than 974 dollars.
P(M > 974) =

Enter your answers as numbers accurate to 4 decimal places.

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Math   Statistics-And-Probability   
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Answer #1

Let random variable x denote the annual cost of auto insurance

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