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An insurance company issues a one-year $1000 policy insuring against an occurrence A that historically happens to 2 out of every 100 owners of the policy. Administrative fees are $15 per policy and are not part of the company's "profit." How much should the company charge for the policy if it requires that the expected profit per policy be $50?
A previous study of nickels showed that the standard deviation of the weight of nickels is 150 milligrams.
Do a frequency table, histogram, normal Q - Q and the de-trended normal and Do descriptive statistics (mean, standard deviation, minimum, maximum) for each one of the 11 variables.
find the value of the standardized z-test statistic. test ho p 0.75 verses ha pgt0.75 when the sample has n20 p0.78 and
Use this information to find the upper and lower limits of the first class if you wish to construct a frequency distribution with 10 classes.
Give an example representing a discrete probability distribution and another example representing a continuous probability distribution. Explain why your choices are discrete and continuous.
A customer wants to estimate the average delivery time of a pizza from the local pizza parlor. The customer wants to obtain a sample mean that falls within 3.204 minutes of the true average delivery time with 99% confidence. If the customer knows ..
The time it takes a student to finish a electronics test has a uniform distribution between 50 and 70 minutes.
how important they felt level of risk was in choosing a retirement investment
recent information published by the u.s. environmental protection agency indicates that honda is the manufacturer of
We are establishing a quality control program for a process and need to establish the mean and standard deviation for the process. The first 10 batches had samples of size 5 taken.
Scores range from 0 to 200. The mean score for students who live on the west coast is about 115. Construct a 90% confidence interval for the unknown mean of the students on the east coast.
After 1,000-trial simulation, examine statistical information generated and compare output of simulation with your findings in Problem .Briefly describe the significant similarities and differences.
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