Post a New Question

statistics

posted by on .

any state auto insurance company took a random sample of 370 insurance claims paid out during a 1-year period. the average claim was $750 with a standard deviation of $150. find .99 confidence interval for the mean claim payment.

  • statistics - ,

    Formula:

    CI99 = mean ± (z-value)(sd/√n)

    mean = 750
    sd = 150
    n = 370

    Find the z-value using a z-table for 99% confidence, then calculate your interval.

    I hope this will help get you started.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question