An insurance company is interested in the average claim on its auto insurance policies. It believes the
Question:
An insurance company is interested in the average claim on its auto insurance policies. It believes the claims are normally distributed. Using the last 37 claims, it finds the mean claim to be $1,270 with a standard deviation of
$421. Construct a 95 % confidence interval for the mean claim on all policies.
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To construct a 95 confidence interval for the mean claim on all policies we will u...View the full answer
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Related Book For 
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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