Fifteen policyholders are randomly selected for company reco

Reference no: EM13277456

1. An auditor for Health Maintenance Service of Georgia reports 40% of policyholders 55 years or older submit a claim during the year. Fifteen policyholders are randomly selected for company records.
A. How many of the policyholders would you expect to have filed a claim within the last year?
B. What is the probability that 10 of the selected policyholders submitted a claim last year?
C. What is the probability that 10 or more of the selected policyholders submitted a claim last year?
D. What is the probability that more than 10 of the selected policyholders submitted a claim last year?

2. A tube of Listerine Tarter Control toothpaste contains 4.2 ounces. As people use the toothpaste, the amount remaining in any tube is random. Assume the amount of toothpaste remaining in the tube follows a uniform distribution. From this information, we can determine the following information about the amount remaining in a toothpaste tube without invading anyone's privacy.
a. How much toothpaste would you expect to be remaining in the tube?
b. What is the standard deviation of the amount remaining in the tube?
c. What is the likelihood there is less than 3.0 ounces remaining in the tube?
d. What is the probability there is more than 1.5 ounces remaining in the tube?

A recent report in USA today indicated a typical family of four spends $490 per month on food. Assume the distribution of food expenditures for a family of four follows the normal distribution, with a standard deviation of $90 per month.
a. what percent of the families spend more than $300 but less than $490 per month on food?
b. What percent of the families spend less than $430 per month on food?
c. What percent spend between $430 and $600 per month on food?
d. What percent spend between $500 and $600 per month on food?

Can you show the step-by-step on how you got the answer? Or show it in excel?

Reference no: EM13277456

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