Define the proportion who file a claim in the next year

Assignment Help Finance Basics
Reference no: EM131728393

Question: For each of the following, if the scenario fits the conditions for the approximate normality of the sampling distribution for a sample proportion, describe the sampling distribution of p^ and draw a picture of it. If the scenario doesn't fit, explain why not (in which case you do not have the tools to describe the sampling distribution of p^).

a. An auto insurance company has 1500 customers in a city, and over the long run, 6% of them will file a claim in any given year. Define p^ to be the proportion who file a claim in the next year.

b. A dean has found that over the years, about 15% of students who begin their college work in her program do not finish. This year, 90 students will begin her program; define p^ to be the proportion who will finish.

c. An essay contest has three winners, but the number of entrants varies each time that it is offered, so the proportion of entrants who are winners also varies. Define p^ to be the proportion of entrants who will be winners the next time that the contest is offered.

Reference no: EM131728393

Questions Cloud

Share of abc corporation stock : What would you pay for a share of ABC Corporation stock today if the next dividend (to be paid in one year) will be $6 per share
Describe a time when you were influenced by media : Describe a time when you were influenced by media bias in relation to a world event, or perhaps an event on a more local level.
Hires workers to harvest the grapes : King Estate makes an award winning Pinot Noir and hires workers to harvest the grapes. The diagram below shows the value of the marginal product.
Provide an overview of the problem or issue : Provide an overview of the problem or issue, including shortquotations or paraphrases fromat least three credible, relevant sources, each documented.
Define the proportion who file a claim in the next year : For each of the following, if the scenario fits the conditions for the approximate normality of the sampling distribution for a sample proportion.
Indicate the average total cost : Use a horizontal drop line to indicate the average total cost incurred by a typical burger joing in the short run (ATCp).
Write a reflection paper on book sullivan-i trusted you : Write a REFLECTION PAPER on book Sullivan (I Trusted You) 12font, (Book) Sullivan - I Trusted You (all).
Explain in detail without using a calculator : What will be the FV of these paymenmts at the end of the 10th year?
What are the values of n and p in given situation : An automobile club comes to the aid of stranded motorists who are members. Over the long run, about 5% of the members utilize this service in any 12-month.

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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