Economics and Finance In 2012, Hurricane Sandy caused over 2 million households to lose power and damaged over 70,000 homes and businesses. Every family filed some sort of insurance claim for damage to their home and/or car.
An insurance company serving the area is interested in the typical amount of a claim as a result of this storm. Seventyfive affected families are selected and their total claims are recorded. Describe the population and the sample in this problem.