**Problem Context:**Anystate Auto Insurance Company took a random sample of 354 insurance claims paid out during a 1-year period. The average claim paid was $1590. Assume the standard deviation (σ) is $238.**Task:**1. Find a 0.90 confidence interval for the mean claim payment. (Round your answers to two decimal places.) - Lower limit: $_____ - Upper limit: $_____2. Find a 0.99 confidence interval for the mean claim payment. (Round your answers to two decimal places.) - Lower limit: $_____ - Upper limit: $_____**Additional Resources:**- [Need Help?](#) [Read it](#)

Given: n = 354 X = 1590 σ = 238 Formula Used: Confidende interval = X ± Z*σn

Answered: Anystate Auto Insurance Company took a…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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a survey, 30 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $47 and standard deviation of $6. Construct a confidence interval at a 80% confidence level. Give your answers to one decimal place. H
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A random sample of 40 12th-grade students was asked how long it took to get to school. The sample mean was 15.5 minutes and the sample standard deviation was 12.7 minutes. a. Find a 95% confidence interval for the population mean time it takes 12th-grade students to get to school. b. Would a 90% confidence interval based on this sample data be wider or narrower than the 95% confidence interval? Explain. Check your answer by constructing a 90% confidence interval and comparing the width of the interval with the width of the 95% confidence interval you found in part (a). a. The 95% confidence interval is from minutes to minutes. (Round to two decimal places as needed. Use ascending order.) b. Would a 90% confidence interval based on this sample be wider or narrower than the 95% confidence interval? O A. The 90% interval is wider because it has a lower confidence level, and therefore uses a smaller critical value, which creates a wider interval. O B. The 90% interval is wider because it…
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