Question

Anystate Auto Insurance Company took a random sample of 360 insurance claims paid out during a 1-year period. The average claim 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	$

Answer 1

first part:

Critical value at 0.90 (90% ) confidence =1.64

confidence interval is given by

Second Part:

Critical value at 0.99 (99% ) confidence =2.58

Confidence Interval is given: