(1 point) An insurance company knows that in the entire population of millions of homeowners, the mean annual loss from fire is

= $400 and the standard deviation of the loss is

= $2000. The distribution of losses is strongly right skewed: most policies have $0 loss, but a few have large losses. If the company sells 10,000 policies, what is the probability that it can safely base its rates on the assumption that its average loss will be no greater than $420?

(1 point) A class survey in a large class for first-year college students asked, "About how many minutes do you study on a typical weeknight?" The mean response of the 251 students was x= 130 minutes. Suppose that we know that the study time follows a Normal distribution with standard deviation= 65 minutes in the population of all first-year students at this university.

Use the survey result to give a 90% confidence interval for the mean study time of all first-year students.