ata Analysis Fall 2024 ASSIGNMENT 4 1. C: Sample Size Determination for Mean Monthly Rentals, Page 152.2. C: Confidence Intervals for Error Rates, Page 153. 3. A major insurance company is deciding whether or not to raise its base rate on automobile insurance policies. It will decide to raise itsrate if the average claim amount over the last year was over $2,000.A random sample of 200 claims indicated that the mean claim amount and standard deviation of the claim amounts were $2,038 and $432 respectively Let = the mean claim amount over the last year and suppose we wish to test Ho: = 2000 versus H1: 2000.a. Conduct the T test and state your conclusions. Should the insurance company raise its rates?b. Compute the p-value for this test.Due: Tuesday, November 12, 2024