CNNBC recently reported that the mean annual cost of auto insurance is 966 dollars. Assume the...

CNNBC recently reported that the mean annual cost of auto insurance is 966 dollars. Assume the standard deviation is 244 dollars, and the cost is normally distributed. You take a simple random sample of 38 auto insurance policies. Round your answers to 4 decimal places.

What is the distribution of XX? XX ~ N(,)
What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)
What is the probability that one randomly selected auto insurance is more than $919?
a simple random sample of 38 auto insurance policies, find the probability that the average cost is more than $919.
For part d), is the assumption of normal necessary? NoYes

Expert Solution

orchestra answered 2 years ago

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