CNNBC recently reported that the mean annual cost of auto insurance is 1008 dollars. Assume the...

CNNBC recently reported that the mean annual cost of auto insurance is 1008 dollars. Assume the standard deviation is 299 dollars. You take a simple random sample of 58 auto insurance policies.

Find the probability that a single randomly selected value is more than 961 dollars. P(X > 961) =

Find the probability that a sample of size n = 58 is randomly selected with a mean that is more than 961 dollars. P(M > 961) =

Expert Solution

orchestra answered 2 years ago

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