Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

CNNBC recently reported that the mean annual cost of auto insurance is 1027 dollars. Assume the standard deviation is 237 dollars, and the cost is

image text in transcribed
CNNBC recently reported that the mean annual cost of auto insurance is 1027 dollars. Assume the standard deviation is 237 dollars, and the cost is normally distributed. You take a simple random sample of 37 auto insurance policies. Round your answers to 4 decimal places. a. What is the distribution of X? X ~ N( 1027 237 of 1027 237 b. What is the distribution of c? ~ ~ N( 1027 38.96256 1027 38.9626 c. What is the probability that one randomly selected auto insurance is less than 5974? d. a simple random sample of 37 auto insurance policies, find the probability that the average cost is less than $974

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Ordinary Differential Equations And Mechanical Systems

Authors: Jan Awrejcewicz

1st Edition

3319076590, 9783319076591

More Books

Students also viewed these Mathematics questions

Question

Speak clearly and distinctly with moderate energy

Answered: 1 week ago

Question

Get married, do not wait for me

Answered: 1 week ago

Question

Do not pay him, wait until I come

Answered: 1 week ago