Confidence interval for the proportion of claims, Basic Statistics

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Confidence interval for the proportion of claims

An insurance company states that 90% of its claims are settled within 30 days. A consumer group selected a simple random sample of 200 of the company's claims and found that 164 of the claims were settled within 30 days. Calculate a 99% confidence interval for the proportion of claims that are settled within 30 days.Interpret your results. Is the company's statement reasonable?

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Basic Statistics: Confidence interval for the proportion of claims

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Basic Statistics: Confidence interval for the proportion of claims

Reference No:- TGS0734320

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Recent Questions Asked Basic Statistics

Q : Why is this an acceptable assumption for moist air

Q : Radio station broadcasts at certain frequency

Q : Calculate the cell equilibrium potential ecell

Q : Calculate the heat lost by the plate

Q : Confidence interval for the proportion of claims

Q : Determine pressure drop across turbine if it delivers power

Q : What is the value of the amplitude at the speed

Q : How large a volume of helium is required

Q : Calculate the rate of heat transfer through the plates

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Basic Statistics: Confidence interval for the proportion of claims

Reference No:- TGS0734320

Recent Questions Asked Basic Statistics

Q : Why is this an acceptable assumption for moist air

Q : Radio station broadcasts at certain frequency

Q : Calculate the cell equilibrium potential ecell

Q : Calculate the heat lost by the plate

Q : Confidence interval for the proportion of claims

Q : Determine pressure drop across turbine if it delivers power

Q : What is the value of the amplitude at the speed

Q : How large a volume of helium is required

Q : Calculate the rate of heat transfer through the plates

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