A sample of 20 insurance claims for automobile accidents (in $1000) gives the following values: 1.6 2.0
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A sample of 20 insurance claims for automobile accidents (in $1000) gives the following values:
1.6 2.0 2.7 1.3 2.0 1.3 0.3 0.9 1.2 1.2 0.2 1.3 5.0 0.8 7.4 3.0 0.6 1.8 2.5 0.3 Construct a 0.95 confidence interval on the mean value of claims. Comment on the usefulness of this estimate (Hint: Look at the distribution.)
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