Question

An insurance company, based on past experience, estimates the mean damage for a natural disaster in its area to be 20,000 AED. After introducing several plans to prevent loss, it randomly selected a sample of policyholders and finds that the mean amount per claim was 19,000. After performing a test at 1% significance level, the manager of the company showed that the prevention plans were effective in changing the mean amount of a claim. Which of the following could be a 99% confidence interval for the mean amount of a claim?


1- Not enough information to answer the question.


2- (17000, 21000)


3- (17500, 19500)


4- (18500, 19500)

Answer 1

Answer:

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