Mathematics, 16.12.2019 18:31 jordivivar74

Anystate auto insurance company took a random sample of 360 insurance claims paid out during a 1-year period. the average claim paid was $1510. 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 $

Answers: 1

Show answers

Answers

Answer from: Studyhard4706

Answer with explanation:

The formula to find the confidence interval is given by :-

$\overline{x}\pm z^*SE.$

, where $\overline{x}$ = Sample mean

z* = Critical value.

SE = Standard error , $SE=\dfrac{\sigma}{\sqrt{n}}$ , $\sigma$ = Population standard deviation.

n= Sample size.

As per given , we have

$\overline{x}=\$1510$

$\sigma=\$236$

n= 360

$SE=\dfrac{236}{\sqrt{360}}=\dfrac{236}{18.973665961}\\\\=12.43829213\approx12.49$

We know that the critical value for 0.90 confidence interval : z* = 1.645

Then, a 0.90 confidence interval for the mean claim payment.will be :

$1510\pm (1.645)(12.49)\\\\ =1510\pm20.54605\\\\=(1510-20.54605,\ 1510+20.54605)\\\\=(1489.45395,\ 1530.54605)\approx(1489.45,\ 1530.55)$

∴ a 0.90 confidence interval for the mean claim payment. = ($1489.45,$1530.55)

We know that the critical value for 0.99 confidence interval : z* = 2.576

0.99 confidence interval for the mean claim payment will be :

$1510\pm (2.576)(12.49)\\\\ =1510\pm32.17424\\\\=(1510-32.17424,\ 1510+32.17424)\\\\=(1477.82576,\ 1542.17424)\approx(1477.83,\ 1542.17)$

∴ a 0.99 confidence interval for the mean claim payment. = ($1477.83, $1542.17)

Answer from: Quest

answer: a video game has three difficulty levels: easy, medium, and expert. the game's scoring works in such a way that a player has to score a fixed number of points to advance to the next level, and then the scoring starts over. the total score needed to clear all three difficulty levels is 7,500. two times the number of points needed to clear the easy level is 500 more than the number of points needed to clear the medium level. twice the number of points needed to clear the medium difficulty level is 1,500 more than the number of points needed to clear the expert level. if x, y, and z represent the easy, medium, and expert levels, respectively, and a is the coefficient matrix of the system of equations modeling this situation, identify the inverse matrix, a-1, and the solution matrix, x, of the system of equations.

ask for details followreport by buttfacelily 2 minutes ago

answers

rauschg

rauschg · hand

know the answer? add it here!

step-by-step explanation:

Answer from: Quest

answer: what is the conflict?

step-by-step explanation:

*what has happened to new york city?

*what is in the time capsule?

* what did the kidz see that gave them hope?

*what will they do with what they find?

* how will they save the city?

* what challenges will they face along the way?

*what big choice will they make at the climax of the story?

* what lesson do they learn at the end of the story?

Another question on Mathematics

Mathematics, 20.06.2019 18:02

Farmer dave harvested his corn. he stored 5/9 of his corn in one large silo and 3/4 of the remaining corn in a small silo. the rest was taken to a market to be sold. a. what fraction of the corn was stored in the small silo? 10 points

Answers: 3

Answer

Mathematics, 21.06.2019 18:00

Which statement about the relative areas of δabc and δxyz is true? the area of δabc > the area of δxyz the area of δabc < the area of δxyz the area of δabc = the area of δxyz more information is needed to compare.

Answers: 2

Answer

Mathematics, 21.06.2019 18:50

Given: pqrs is a parallelogram prove: pr and qs bisect each other at t

Answers: 1

Answer

Mathematics, 21.06.2019 20:00

Landon wrote that 3−2.6=4. which statement about his answer is true?

Answers: 1

Answer

You know the right answer?

Anystate auto insurance company took a random sample of 360 insurance claims paid out during a 1-yea...