Probability that half or more of claims have been padded

Assignment Help Basic Statistics
Reference no: EM13120672

Do you try to pad your insurance claim to cover your deductible? About 40% of all U.S. adults will try to pad their insurance claims. Suppose that you are the director of an insurance adjustment office. Your office has just received 128 insurance claims to be processed in the next few days. What is the probability that

a. half or more of the claims have been padded?
b. Fewer than 45 of the claims have been padded
c. From 40 to 64 of the claims have been padded
d. More than 80 of the claims have been padded

Reference no: EM13120672

Questions Cloud

Distance and midpoint : Solve for the following items: The point on the x-axis that is equidistant (equal distance)from (10,4) and (6,2).
What are the implications of bps strategy : What are the implications of BP's strategy in terms of public perception and how may this impact upon their performance?
Find out the wavelength of the waves in the shallower water : When these waves move into a shallower part of the lake, their speed decreases to 1.6 m/s, though their frequency remains the same. Find out the wavelength of the waves in the shallower water.
Describe a queuing process in your work environment : Describe a queuing process in your work environment or community. b) Identify the model (M/M/1, M/M/m, M,D,1 etc.) used and c) its operating characteristics (arrival, waiting line, and service facility). d) Explain the assumptions that were made.
Probability that half or more of claims have been padded : Your office has just received 128 insurance claims to be processed in the next few days. What is the probability that half or more of the claims have been padded?
How many moles of water are produced : When ethanol burns C2H5OH + 3O2 ==> 2CO2 + 3H2O , how many moles of water are produced as 48.380 moles of carbon dioxide are produced.
Debate how this affects the accounting profession as a whole : The IRS allows CPAs, lawyers, and Enrolled Agents (EA) to prepare taxes for compensation. Debate how this affects the accounting profession as a whole, and how you think this change will impact the accuracy and cost of tax preparation.
Compute the current delivered to the resistor : This parallel group is connected in series with a 22.0 Ω resistor. The total combination is connected across a 18.0 V battery. Compute the current delivered to the 130 Ω resistor.
Discuss how statement of cash flows is used by investors : Discuss how the statement of cash flows is used by investors. If you were an investor reviewing a statement of cash flows, what section would interest you most? Why?

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!

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