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 2021-07-05 Answered

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 \(\sigma\ math=$250\). Find 0.90 and 0.99 confidence intervals for the mean claim payment.

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Expert Answer

Corben Pittman
Answered 2021-07-06 Author has 11953 answers
Mean \(\displaystyle\mu\)
90%: 1548.6201 to 1591.3799
95%: 1536.5330 to 1603.4670
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