Question: solve using Spyder on python Problem (Monte Carlo Simulation using Python): a Statewide Auto Insurance believes that for every trip longer than 10 minutes that

solve using Spyder on python Problem (Monte Carlo

solve using Spyder on python

Problem (Monte Carlo Simulation using Python): a Statewide Auto Insurance believes that for every trip longer than 10 minutes that a teenager drives, there is a 1 in 1,000 chance that the drive will result in an auto accident. Assume that the average cost of an accident is equally likely to be any value between $1000 and $9000. Construct a simulation model with 1000 simulation trials using Python to answer the following questions: If a teenager drives 500 trips longer than 10 minutes, what is the mean total cost resulting from the accidents? Provide a 95% confidence interval on this mean. Record your results using comments embedded within your code. a

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