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Claims arrive at random times to an insurance company. The daily amount of claims is normally distributed with mean $1570 and standard deviation $450. Total claims on different days each have this distribution, and they are probabilistically independent of one another.
a. Find the probability that the amount of total claims over a period of 100 days is at least $150,000.
b. If the company receives premiums totaling $165,000, find the probability that the company will net at least $10,000 for the 100-day period.
A random sample of 256 Australian executives was asked how many hours per week they spent on work brought home from the office. The average was found to be 15.6 hours. Assuming a population standard deviation of 4 hours, estimate the 99% confidenc..
What percentage of the workers is paying between $1800 and $2400 per year toward the family health coverage premium? What is the probability that a worker pays more than $2500 towards the family health coverage premium?
What is the probability that a random sample of 36 students will have a mean verbal sat score that is great than 535?
A bonding company want to insure a construction projects completion. If the project is cancelled due to the contractor's lack of performance
The standard deviation was $6050. Is there evidence at the 1% significance level that the cost of attendance has increased? State the hypothesis?
find the following probabilities for a standard normal random variable z. note round your answers to four decimal
suppose that due to the cost of a survey you must reduce your random sample from 100 to 64. which of the following
Which of the following would be an appropriate alternative hypothesis?
Fast Service, a chain of automotive tune-up shops, advertises that its personnel can change the oil, replace the oil filter, and lubricate any standard automobile in 15 minutes, on the average.
Construct a 95% confidence interval for the proportion of people disagreeing with the statement.
What is the basic principle that can be used to simplify a polynomial? What is the relevance of the order of operations in simplifying a polynomial?
30% of college freshmen support increased military spending. If 12 college freshmen are randomly selected, find the probability that more than 5 selected students support increased military spending.
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