User Account

All Pages

Percentage of fraudulent claims filed with the company

Assignment Help Basic Statistics
Reference no: EM131679966

Question: An insurance company selected a sample of 50 auto claims filed with it and investigated those claims carefully. The company found that 12% of those claims were fraudulent.

a. What is the point estimate of the percentage of all auto claims filed with this company that are fraudulent?

b. Make a 99% confidence interval for the percentage of all auto claims filed with this company that are fraudulent.

Reference no: EM131679966

Questions Cloud

Prepare contribution income statement for the year ended : Prepare contribution income statement for the year ended December 31, 2008. HINT: Use a negative sign with both "costs" answers
Explain why the change management principles discussed : Explain why the change management principles discussed in this chapter should be used when managing operating system patches.
Prepare income statement and balance sheet : March 1, Chuck Branson, the owner, invested $200,000 cash to start the business. Prepare Income statement and balance sheet
List five ideas for a worksite wellness program : List five ideas for a worksite wellness program to help employees improve their stress anxiety, fatigue, and boredom.
Percentage of fraudulent claims filed with the company : An insurance company selected a sample of 50 auto claims filed with it and investigated those claims carefully. The company found that 12% of those claims.
Personal risk for developing osteoporosis : To assess your personal risk for developing osteoporosis and bring awareness to steps you can take today to reduce those risks.
Estimate the proportion of all roulette spins on the wheel : What is the value of the point estimate of the proportion of all roulette spins on this wheel in which the ball would land in 0 or 00 slot?
Discuss dominant types of vegetation found in areas : What are the two most dominant types of vegetation found in areas where nomadic herding is dominant
Design a teacher observation instrument : Design a teacher observation instrument that reflects current theory, research and your vision of what is important to observe.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Statistics-probability assignment

MATH1550H: Assignment:  Question:  A word is selected at random from the following poem of Persian poet and mathematician Omar Khayyam (1048-1131), translated by English poet Edward Fitzgerald (1808-1883). Find the expected value of the length of th..

  What is the least number

MATH1550H: Assignment:  Question:     what is the least number of applicants that should be interviewed so as to have at least 50% chance of finding one such secretary?

  Determine the value of k

MATH1550H: Assignment:  Question:     Experience shows that X, the number of customers entering a post office during any period of time t, is a random variable the probability mass function of which is of the form

  What is the probability

MATH1550H: Assignment:Questions: (Genetics) What is the probability that at most two of the offspring are aa?

  Binomial distributions

MATH1550H: Assignment:  Questions:  Let’s assume the department of Mathematics of Trent University has 11 faculty members. For i = 0; 1; 2; 3; find pi, the probability that i of them were born on Canada Day using the binomial distributions.

  Caselet on mcdonald’s vs. burger king - waiting time

Caselet on McDonald’s vs. Burger King - Waiting time

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Sampling variability and standard error

Problems on Sampling Variability and Standard Error and Confidence Intervals

  Estimate the population mean

Estimate the population mean

  Conduct a marketing experiment

Conduct a marketing experiment in which students are to taste one of two different brands of soft drink

  Find out the probability

Find out the probability

  Linear programming models

LINEAR PROGRAMMING MODELS

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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