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 $1054?

MATLAB: An Introduction with Applications
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ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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CNNBC recently reported that the mean annual cost of auto insurance is 1016 dollars. Assume the standard deviation is 213 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.

  1. What is the distribution of XX? XX ~ N(,)
  2. What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)
  3. What is the probability that one randomly selected auto insurance is more than $1054? 
  4. a simple random sample of 38 auto insurance policies, find the probability that the average cost is more than $1054. 
  5. For part d), is the assumption of normal necessary? NoYes
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CNNBC recently reported that the mean annual cost of auto insurance is 1033 dollars. Assume the standard deviation is 296 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.

  1. What is the distribution of �? � ~ N(,)
  2. What is the distribution of �¯? �¯ ~ N(,)
  3. What is the probability that one randomly selected auto insurance is less than $1102? 
  4. a simple random sample of 38 auto insurance policies, find the probability that the average cost is less than $1102. 
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