CNNBC recently reported that the mean annual cost of auto insurance is 1032 dollars. Assume the standard deviation is 164 dollars. You will use a simple random sample of 78 auto insurance policies.Find the probability that a single randomly selected policy has a mean value between 996.7 and 1048.7 dollars.\[P(996.7 < X < 1048.7) = \text{______}\]Find the probability that a random sample of size \( n = 78 \) has a mean value between 996.7 and 1048.7 dollars.\[P(996.7 < M < 1048.7) = \text{______}\]Enter your answers as numbers accurate to 4 decimal places.

Mean()=1032standard deviation()=164sample size(n)=78

Answered: CNNBC recently reported that the mean…

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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