An insurance company selected a sample of 100 auto claims filed with it and investigated those claims carefully. The company found that 12% of those claims were fraudulent.   a. What is the point estimate of the percentage of all auto claims filed with this company that are fraudulent?   b. Make a 99% confidence interval for the percentage of all auto claims filed with this company that are fraudulent.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 30PPS
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An insurance company selected a sample of 100 auto claims filed with it and investigated those claims carefully. The company found that 12% of those claims were fraudulent.
 
a. What is the point estimate of the percentage of all auto claims filed with this company that are fraudulent?
 
b. Make a 99% confidence interval for the percentage of all auto claims filed with this company that are fraudulent.
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