The claims manager for an insurance company would like to know the mean amount of automobile insurance
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The claims manager for an insurance company would like to know the mean amount of automobile insurance repair claims paid by his company. He took a sample of n = 25 claims and found X̅ = $950 and s = $280. How much larger should his sample be if he wants to estimate the mean payment to within ±50 with 90 % confidence?
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Related Book For 
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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