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Find the average amount per claim for auto body repairs

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Reference no: EM131974921

An automobile insurance firm wants to find the average amount per claim for auto body repairs. Its summary records combine amounts for body repair with all other repair amounts, so a sample of individual claims must be taken. A 95% confidence interval with a width no greater than $50 is wanted. A "horseback guess" says that the standard deviation is about $400. How large a sample is needed?

Reference no: EM131974921

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