For a sample of 138 claims summited by insurance customers, what would you expect the distribution of
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For a sample of 138 claims summited by insurance customers, what would you expect the distribution of the amount (in dollars) of claims to be? A financial officer has been asked to check on 50 claims at random. She wants to know whether the mean amount of those claims is typical.
What, if anything, does she need to assume about the distribution of claim amounts to be able to use the Central Limit Theorem? Are those assumptions reasonable?
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Related Book For
Business Statistics
ISBN: 9781292269313
4th Global Edition
Authors: Norean Sharpe, Richard De Veaux, Paul Velleman
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