Auto insurance premiums

Assignment Help Basic Statistics
Reference no: EM131824952

Auto insurance premiums. Suppose a newspaper article states that the distribution of auto insurance premiums for residents of California is approximately normal with a mean of $1,650. The article also states that 25% of California residents pay more than $1,800.

(a) What is the Z-score that corresponds to the top 25% (or the 75th percentile) of the standard normal distribution?

(b) What is the mean insurance cost? What is the cutoff for the 75th percentile?

(c) Identify the standard deviation of insurance premiums in LA.

Reference no: EM131824952

Questions Cloud

Discuss at least one crime-mapping strategy : In doing so, discuss at least one Crime-Mapping Strategy discussed in the literature and how you would use it
Calculating the capm : The Capital Asset Pricing Model (CAPM) is a financial model that assumes returns on a portfolio are normally distributed.
What is it called when an offender transitions away : According to the Grattet and Lin (2016) article, which of the following did NOT influence parole violations in their study?
Determine your ordering decision of kentucky swamp brew : Consider that forecasting can be a feedback process. How would you use forecasting to help you determine your ordering decision of Kentucky Swamp Brew?
Auto insurance premiums : Suppose a newspaper article states that the distribution of auto insurance premiums for residents of California is approximately normal with a mean.
Distribution of passenger vehicle speeds traveling : The distribution of passenger vehicle speeds traveling on the Interstate 5 Freeway (I-5) in California is nearly normal with a mean of 72.6 miles/hour.
Discuss the medicaid and medicare health insurance programs : Discuss the Medicaid and Medicare health insurance programs. Discuss how accepting payment from each can impact a health care delivery organization.
Describe the role of the crime analyst in solving crimes : Describe the role of the crime analyst in solving crimes and identify various crime analysis strategies they may utilize
Describe the two types of electronic monitoring : Identify and describe the two types of electronic monitoring (EM) discussed in lecture.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Three periods double moving average method

A company tracked the number of complaints it received during the first 6 months of last year, as shown in the following table:

  Explaining the discrepancy in variety seeking

Diversification Bias: Explaining The Discrepancy in Variety Seeking Between Combined and Separated Choices" by Daniel Read and George Loewenstein

  Translate into symbolic form - sea turtle population

Translate the following arguments into symbolic form.- If either the sea turtle population continues to decrease or rescue efforts are commenced to save the sea turtle from extinction, then nesting sanctuaries will be created and the indiscriminate..

  Describes the selected research issue

Describes the selected research issue, problem, or opportunity.

  Find what percentage of the observations fall in intervals

A sample of 3000 observations has a bell-shaped distribution with a mean of 82 and a standard deviation of 16. Using the empirical rule, find what percentage of the observations fall in the intervals x-bar ± 1s, x-bar ± 2s, and x-bar ± 3s

  Develop appropriate hypotheses

1. Justify your selection of DV, IV, and Mediator or Moderator. Develop appropriate hypotheses.  2. Develop appropriate hypotheses. 3. Test your moderation hypothesis using SPSS.

  Option-consumer learning

Select a product, either existing or from your ingenuity, and design an ad purporting to teach consumers how to use the product and explain its benefits/features. In a well-written, 3- to 4-page paper , be sure to discuss the cues, or stimuli, rep..

  Assumptions of the simple linear regression

Do you think that the assumptions of the simple linear regression model are reasonable? Justify your answer using appropriate graphs.

  How do federal policy and congress play

How do federal policy and Congress play a role in the work place?

  Assume a normal distribution draw a well-labeled curve for

assume a normal distribution. draw a well-labeled curve for each part.a. find the z-score that gives a left area

  Is it unusual to choose subjects without replacement

That they all had false positive results. Is it unusual to arbitarily choose 3 subjects without replacement and get three results which are all false positive results? Describe.

  What is the probability that at least 30 of them would pass

If we randomly select 20 statistics students, what is the probability that exactly half of them would pass?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd