Homework Help: Statistics

Posted by Kim on Friday, October 31, 2008 at 12:26pm.

An automobile in surer has found that repair claims have a mean of $1520 and a stardard deviation of $770. Suppose that the next 100 claims can be ragarded as a random sample from the long-run claims process

1. What is the mean and standrd deviation of the average x(bar) of the next 100 claims?

2. What is the probability that the average x (bar) of the 100 claims in less than $1500?

(Please explain the steps taken so I can understand)

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