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The mean annual cost of automobile insurance is $939. Assume that the standard deviation is $245. a) What is the probability that a simple random

The mean annual cost of automobile insurance is $939. Assume that the standard deviation is $245.

a) What is the probability that a simple random sample of automobile insurance policies will have a sample mean within $25 of the population mean for each of the following sample sizes: 30, 50, 100, and 400?

b) What is the advantage of larger sample size when attempting to estimate the population means?

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