Suppose a newspaper article states that the distribution of auto insurance premiums for residents of California is

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Suppose a newspaper article states that the distribution of auto insurance premiums for residents of California is approximately normal with a mean of $1,650. The article also states that 25% of California residents pay more than $1,800.

(a) What is the Z-score that corresponds to the top 25% (or the 75th percentile) of the standard normal distribution?

(b) What is the mean insurance cost? What is the cutoff for the 75th percentile?

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OpenIntro Statistics

ISBN: 9781943450077

4th Edition

Authors: David Diez, Mine Çetinkaya-Rundel, Christopher Barr

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Question Posted: Jul 20, 2023 07:52 AM

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Suppose a newspaper article states that the distribution of auto insurance premiums for residents of California is

Question:

Step by Step Answer:

To solve this problem we can use the properties of the standard normal distribution also known as the Zdistribution where the mean is 0 and the standa...View the full answer

OpenIntro Statistics

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