An insurance company is interested in the average claim on its auto insurance policies. It believes the
Question:
An insurance company is interested in the average claim on its auto insurance policies. It believes the claims are normally distributed. Using the last 37 claims, it finds the mean claim to be $1,270 with a standard deviation of
$421. Construct a 95 % confidence interval for the mean claim on all policies.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (3 reviews)
To construct a 95 confidence interval for the mean claim on all policies we will u...View the full answer
Answered By
WAHIDUL HAQUE
hello,
I'm a professional academic solution provider working as a freelance academic solution provider since 7 years. I have completed numerous projects. Help lots of students to get good marks in their exams and quizzes. I can provide any type of academic help to your homework, classwork etc, if you are a student of Accounting, Finance, Economics, Statistics. I believe in satisfying client by my work quality, rather than making one-time profit. I charge reasonable so that we make good long term relationship. why will you choose me? i am an extremely passionate, boldly honest, ethically driven and pro-active contractor that holds each of my clients in high regards throughout all my business relations. in addition, I'll always make sure that I'm giving my 100% better in every work that will be entrusted to me to be able to produce an outcome that will meet my client's standards. so if you are a student that is now reading my profile and considering me for your academic help. please feel free to look through my working history, feedback and contact me if you see or read something that interests you. I appreciate your time and consideration.
regards
4.90+
233+ Reviews
368+ Question Solved
Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
Question Posted:
Students also viewed these Business questions
-
The Seitz Corporation, a QS 9000 certified organization based in Torrington, Connecticut, is a leading designer and manufacturer of thermoplastic motion control systems and components and an industry...
-
DigiFlix is a streaming service for home movies. It plans to issue debt to finance an upgrade to its IT infrastructure. The project will cost $30 million and debt issuance costs are 3% of the amount...
-
An insurance company wants to know if the average speed at which men drive cars is greater than that of women drivers. The company took a random sample of 27 cars driven by men on a highway and found...
-
02. The competitive exclusion principle only applies when the niches of competing species have a high degree of overlap. O True False 54bmit Q3. Four snake species colonize an island at the same...
-
Question 1) List and describe the critical roles of senior/executive management during the life cycle of the project. Question 2) Describe how adopting various types of management structures and...
-
How is the decomposition of an update request different from the decomposition of a query? How are guard conditions and attribute lists of fragments used during the decomposition of an update request?
-
What power does a shareholder with a blocking minority have?
-
Two identical spheres are each attached to silk threads of length L = 0.500 m and hung from a common point (Fig. 21.44). Each sphere has mass m = 8.00 g. The radius of each sphere is very small...
-
Set An C in roster form is O Type a whole number. Use a comma to separate answers as needed.)
-
A random sample of the luggage of 30 passengers of Fly Me Airlines finds that the mean weight of the luggage is 47 lb with a standard deviation of 8 lb. Construct a 90 % confidence interval for the...
-
A random sample of 200 students at Academic University finds the sample mean grade point average to be 3.10 with a standard deviation of 0.80. Construct a 99 % confidence interval for the mean grade...
-
Simplify. Leave numerators and denominators in factored form when appropriate. 2 +1 2-11
-
You deposit $150,000 today in an account that pays an annual rate of 10 percent interest. You plan to withdraw $100,000 from this account at the end of the 3rd year. How much will be left in your...
-
Examine the design and construction challenges of deep foundations in complex geotechnical environments, such as soft clays, expansive soils, or karst topography. How do engineers address the risks...
-
Identify and define five common types of fraud. Explain how you might detect each type of fraud. Provide the steps you would take to recover. Explain what a consumer might do to avoid each type of...
-
At Puente Hills Toyota, most employees variable incentive pay increases linearly with performance, however performance is defined. This results in higher bonuses for higher performance regardless of...
-
Two spherical shells have a common center. A -1.50 106 C charge is spread uniformly over the inner shell, which has a radius of 0.050 m. A +4.00 10-6 C charge is spread uniformly over the outer...
-
Cambria, Inc., had equity of $145,000 at the beginning of the year. At the end of the year, the company had total assets of $275,000. During the year, the company sold no new equity. Net income for...
-
What impact has the Internet had on the globalization of small firms? How do you think small companies will use the Internet for business in the future?
-
Could the idea of mass customization be used by a publisher of college textbooks to allow different instructors to order customized teaching materials perhaps even unique books made up of chapters...
-
Give examples of two different ways that a firms production capacity might influence a marketing managers choice of a marketing strategy.
-
Is a small companys flexibility increased or decreased by turning to outside suppliers to produce the products it sells? Explain your thinking.
-
COMPARACION DE INFORMES INTEGRADOS EN o Estndares y metodologas de reporte de temas de sostenibilidad.
-
How can Standard Operating Procedures (SOPs) create behavioral control? Select a Choice Below current question choices OptionA By establishing the correct way to perform tasks OptionB By measuring...
-
The primary source of money, both cash and credit, flowing into the business from its customers for goods sold or services rendered over a period of time is called revenues
Study smarter with the SolutionInn App