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1. The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally distributed with a standard deviation of $5,000, find the probability that
a) An individual graduate will have a salary over $45,000.
b) A group of nine graduates will have a group average over $45,000.
2. The national average for a new car loan was 8.28%. If the rate is normally distributed with a standard deviation of 3.5%, find these probabilities.
a) One can receive a rate less than 9%
b) One can receive a rate less than 8&
If a Normal model is useful for describing slalom times, approximately how many of the other 35 skiers finishing the event would you expect skied the slalom faster than Jean-Baptiste?
a) Set up the null and alternative hypotheses, and perform the hypothesis test. b) Does the jury selection system appear to be fair?
Sketch a graph and shade the area of interest. SCores on a standardized exam are normally distributed with u = 60 and o = 5.
Draw a scatter diagram of the following bivariate data.
Assume we have a population of scores with mean (mu) of 200 and standard deviation (sigma) of 10. Assume that the distribution is normal. Provide answers to the following questions:
A manager receives a forecast for next year. Demand is projected to be 600 units for the first half of the year and 900 units for the second half.
For a population containing N=902 individuals, what code number would you assign for:
An assumption for a significance test of the correlation coefficient is that the populations, the variance of each variable is the same at each point of the other variable.
At alpha = 0.05, is there enough evidence to conclude that proportions vary from those in the study?
What fraction of the calls last between 4.2 and 5 minutes?
Roger has read a report that the weights of adult mail Siberian tigers have a distribution which is approximately normal with mean μ = 390 lb and σ = 65 lb
Which of the examples below represent the Ratio level of scaling?
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