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Chapter 8, Problem 4CR

For Problems 8-12, categorize each problem according to the parameter being estimated: proportion p or mean µ. Then solve the problem.

Auto Insurance: Claims Anystate Auto Insurance Company took a random sample of 370 insurance claims paid out during a 1-year period. The average claim paid was $1570. Assume σ = $250. Find 0.90 and 0.99 confidence intervals for the mean claim payment.

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Chapter 8 Solutions

Bundle: Understanding Basic Statistics, Loose-leaf Version, 7th + WebAssign Printed Access Card for Brase/Brase's Understanding Basic Statistics, ... for Peck's Statistics: Learning from Data

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