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Give the point estimate of the population parameter

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Reference no: EM132850866

An examination of the yearly premiums for a random sample of 80 automobile insurance policies from a major company showed an average of $329 and a standard deviation of $49.

A. Give the point estimate of the population parameter µ and

B. A 99% bound on the error of estimation.

C. Construct a 99% confidence interval for µ.

Reference no: EM132850866

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