00:01
All the students welcome we have a person here and in this question we need to find the confidence interval for the mean of claim and it has given that the number of claims in the sample in the sample are equal to 370 average claim is equal to 1570 and a standard deviation is here even as standard deviation is to 5.
00:46
So let's find out the standard error.
00:49
We need to find out the standard element and for that we'll do it.
00:55
And for that we'll use the formal standard deviation divided by sperse the sample size which is in.
01:06
So this appears 20040, the 50 % percent in 2017 and we can be get it, it's really will be equal for 19 % percent in the 90 % of c value.
01:31
This will be as plus minus 1 .6.
01:35
So the margin of error will be equal to minus 1 .6 multiplied by 12 .9969 that is equal to plus minus 25 .27 3 minutes and now confidence interval confidence interval at 90 % at 90 % will be 50 70 plus minus we will have to study for parts and we will subtract first 4 -7 -39 so our intervals will be as 50 .5 6 when we subtract the survey and next will be be 20957 when we add this.
02:53
For 99 % for 99 % c vary, the margin of error will be calculated from the continent interval as equal to mean s minus 3 .3 .12.
03:32
So this will be us.
03:35
When we add, my subtract, we have 15, 36 .4, 68...