1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Talja [164]
3 years ago
14

Car insurance companies want to keep track of the average cost per claim. The current data in use for Auto Insurance R Us is an

average of $2,200 for each claim with a standard deviation of $500. With this average, the company can stay competitive with rates but not lose money. However, the statistician for the company believes that the cost of the average claim has increased. He pulled 40 recent claims and found the average to be $2,350.
Which most restrictive level of significance would suggest that the company should raise rates?
1%
2.5%
5%
10%
Mathematics
2 answers:
Inessa [10]3 years ago
7 0

Answer:

10%

Step-by-step explanation:

Given that Car insurance companies want to keep track of the average cost per claim. The current data in use for Auto Insurance R Us is an average of $2,200 for each claim with a standard deviation of $500.

Sample mean = 2350 and sample size n =40

Std error of sample = std ddviation/sqrt of n

=\frac{500}{\sqrt{40} } \\=79.06

Margin of error at 95%=1.96*79.06

=154.95

Margin of error at 90%=1.645*79.06 =129

Mean difference =2350-2200=150>margin of error for 129

Hence for 10%it should raise rates

eduard3 years ago
5 0
I just took the test, the answer is 5%.
You might be interested in
Measurement maths!!<br> If good with area please help
Gennadij [26K]

Answer:

a. 15/2 or 7.5 sqcm

b. 20 sqcm

Step-by-step explanation:

Area of a triangle is (base × height)/2.

A = (5×3)/2

A = 15/2 = 7.5cm^2

The area of a parallelogram is just base × height, but yoy have to choose wisely what is the base and height. These two measurements must be perpendicular. So the 4 and 5 are perpendicular. We won't use the measurement 6cm at all.

Area = 4×5

Area = 20 sqcm

4 0
2 years ago
Simplify fowllow the order of operarions 12-7+9-2
steposvetlana [31]
12 bro it even says to follow the order of operations. If there is only addition and subtraction you just go from left to right. Same with if there is only multiplication and division.
6 0
3 years ago
Read 2 more answers
How would I solve this?
Lelu [443]

If you help me with my last question I will help you with this one

3 0
2 years ago
The sum of 3 consecutive even numbers of 78
Jet001 [13]
26, 24, 28 could be the answer
3 0
3 years ago
Read 2 more answers
Kyra has 2 plates, 2 cups, and 2 bowls. If she chooses one of each randomly, what is the probability that the plate, cup, and bo
tensa zangetsu [6.8K]
The correct answer is A. <span>0.125
</span><span>
1/8(this is a fraction)</span>
(divide the numerator by the denominator)

1÷8 = 0.125
If you want you can Convert the number to a percentage:<span>
0.125×100=12.5%

but the question is asking for decimal form therefore the answer is </span>0.125.
I also did the quiz and this was correct

Hope this helps!! :D
7 0
3 years ago
Read 2 more answers
Other questions:
  • Please use method of substitution numbers 9;10;11;12
    6·1 answer
  • Aurelia would like to save $474.72 in a year to purchase a new video camera.She estimates she needs to save $40 per month.Explai
    14·1 answer
  • Describe a measurement on your body that is 1 millimeter wide???
    12·1 answer
  • A circle has a diameter of 28 centimeters.<br> Estimate the area of the circle. Use <br> 22/7
    7·2 answers
  • All apparel up to 99$ was discounted 15% and all apparel over 99$ was discounted 20%.The sales tax rate on all apparel is 8%.Mar
    8·1 answer
  • I GIVE BRAINLIEST FOR EXPLANATION AND CORRECT ANSWER EXTRA POINTS
    10·1 answer
  • One cell phone company offers a plan that costs $29.99 and includes unlimited night and weekend
    5·1 answer
  • 2x and 10x are two angles that are supplementary. How many degrees are each angle?
    8·1 answer
  • Can anyone help me with this proportion ,please?? I'm having a really hard time trying to solve it
    12·1 answer
  • Here's another one I need to know
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!