Statistics Solutions

[Solution] An automobile insurer has found that repair claims have a mean of $920 and a standard deviation of $870. Suppose that the next 100 claims can

Question: An automobile insurer has found that repair claims have a mean of $920 and a standard deviation of $870. Suppose that the next 100 claims can be regarded as a simple random sample from the long-run claims process.

The probability that the average \(\bar{X}\) of the 100 claims is larger than $1000 is

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