Find the probability that a single randomly selected value is less than 962 dollars. P(X < 962) =  Find the probability that a sample of size n=62n=62 is randomly selected with a mean less than 962 dollars. P(M < 962) =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 13PPS
icon
Related questions
Question

CNNBC recently reported that the mean annual cost of auto insurance is 1012 dollars. Assume the standard deviation is 266 dollars. You take a simple random sample of 62 auto insurance policies.

Find the probability that a single randomly selected value is less than 962 dollars.
P(X < 962) = 

Find the probability that a sample of size n=62n=62 is randomly selected with a mean less than 962 dollars.
P(M < 962) = 

Enter your answers as numbers accurate to 4 decimal places.

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL