Question

Anystate Auto Insurance Company took a random sample of 356 insurance claims paid out during a...

Anystate Auto Insurance Company took a random sample of 356 insurance claims paid out during a 1-year period. The average claim paid was $1565. Assume σ = $262.

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     $

Homework Answers

Answer #1

n = 356

= $1565

= $262

Confidence interval, CI = Z*

a) For 0.90 confidence interval, Z* = 1.645

CI = 1565 1.645 x

= 1565 22.84

Lower limit = $1542.16

Upper limit = $1587.84

a) For 0.99 confidence interval, Z* = 2.576

CI = 1565 2.576 x

= 1565 35.77

Lower limit = $1529.23

Upper limit = $1600.77

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Anystate Auto Insurance Company took a random sample of 360 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 360 insurance claims paid out during a 1-year period. The average claim paid was $1595. Assume σ = $262. 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     $
Anystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a 1-year period. The average claim paid was $1530. Assume σ = $260. 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 answers to two decimal places.) lower limit     $ upper limit     $
Anystate Auto Insurance Company took a random sample of 376 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 376 insurance claims paid out during a 1-year period. The average claim paid was $1540. Assume σ = $238. 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     $
Anystate Auto Insurance Company took a random sample of 354 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 354 insurance claims paid out during a 1-year period. The average claim paid was $1530. Assume σ = $236. 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     $
Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a 1-year period. The average claim paid was $1575. Assume σ = $246. 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     $
Anystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a 1-year period. The average claim paid was $1560. Assume σ = $260. 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     $
Anystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 372 insurance claims paid out during a 1-year period. The average claim paid was $1510. Assume σ = $250. 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     $
Anystate Auto Insurance Company took a random sample of 390 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 390 insurance claims paid out during a 1-year period. The average claim paid was $1555. Assume σ = $234. 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     $
Anystate Auto Insurance Company took a random sample of 384 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 384 insurance claims paid out during a 1-year period. The average claim paid was $1595. Assume σ = $252. 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 =$
Anystate Auto Insurance Company took a random sample of 364 insurance claims paid out during a...
Anystate Auto Insurance Company took a random sample of 364 insurance claims paid out during a 1-year period. The average claim paid was $1505. Assume σ = $268. 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     $
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT