Question

assignment, you submit answers by question parts. The number of submissions remaining for each question part only changes if you submit or change the ans nment Scoring mest submission for each question part is used for your score. 10/1 points) DETAILS PREVIOUS ANSWERS BBBASICSTAT8 8.R.008. MY NOTES ASK YOUR TEACHER Anystate Auto Insurance Company took a random sample of 374 insurance claims paid out during a 1-year period. The average claim paid was $1500. Assume o = $246. Find a 0.90 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit $ 353.08 upper limit $ 394.93 Find a 0.99 confidence interval for the mean claim payment. (Round your answers to two decimal places.) lower limit upper limit $ 341.23 $ 406.77 X Need Help? Read Talk to Tutor MY NOTES 2. [4/4 Points) ASK YOUR TEACHER DETAILS WAS BBBASICSTAT8 8.2.013. PREVIOUS ANSWERS tv 30 % 5 & 7 6 8

Answer 1

Answer i Given = 374, M = 1500 2246 a Z-critical value is a = 1-0.90 za Z 크슬 = 0.1 Zoil =Z0105 Z = 1.645 (From - Z-table) 9.90 confidence interval for mean claim payment is = M Z. (9) ol 246 -1500 + 1.645 374 = 1500 I 1.645 * 12. 7204 =1500 I 20. 9251 =1479.075, Lower limit opper limit 1520.925 = $ 1479-08 $ 1520.93 - z = za z-critical value is Lain0.99 -0.01 azo.005 z = 2.576 (from Z- 0.99 confidence interval for mean 2-table) claim payment is MI z. Govor () - 1500+ 2.576 374 21500 I 32.7678 lower limit = $ 1467.23 = $ 1532.77. upper limit