Reference no: EM131009098
Insurance profits
Insurance companies don't know whether a policy they've written is profitable until the policy matures (expires). To see how they've performed recently, an analyst looked at mature policies and inves- tigated the net profit to the company (in $).
a) Make a suitable display of the profits from the data provided.
b) Summarize the central value for the profits with a me- dian and mean. Why do they differ?
c) Given what you know about the distribution, which of these measures might do a better job of summarizing the company's profits? Why?
d) Summarize the spread of the profit distribution with a standard deviation and with an IQR.
e) Given what you know about the distribution, which of these measures might do a better job of summarizing the spread in the company's profits? Why?
f) If we were to remove the outliers from the data, how would you expect the mean, median, standard deviation, and IQR to change?
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Problem regarding the employment discrimination
: Employment discrimination? Census data for New York City indicate that 29.2% of the under-18 population is white, 28.2% black, 31.5% Latino, 9.1% Asian, and 2% are of other ethnicities.
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Investigate the randomness
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Describe how you have represented weak entities
: Convert this data model to a database design. Specify tables, primary keys, and foreign keys. Using Figure as a guide, specify column properties. Describe how you have represented weak entities, if any exist
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Problem regarding the sales rep travel
: A sales representative who is on the road visiting clients thinks that, on average, he drives the same distance each day of the week. He keeps track of his mileage for several weeks and discovers that he averages 122 miles on Mondays
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Summarize the central value for the profits
: a) Make a suitable display of the profits from the data provided. b) Summarize the central value for the profits with a median and mean. Why do they differ? c) Given what you know about the distribution, which of these measures might do a ..
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Summarize the central value for sales
: a) Make a suitable display of the sales from the data provided. b) Summarize the central value for sales for this week with a median and mean. Why do they differ?
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Appropriate graphical displays and summary statistics
: The U.S. Department of Transportation collects data on the amount of gasoline sold in each state and the District of Columbia. The following data show the per capita (gallons used per person) consumption in the year 2005. Write a report on the gas..
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What could happen if enough risks are not fully understood
: What could happen if enough risks are not fully understood before beginning the Perform Qualitative Risk Analysis process
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Mean or the median to summarize the center
: McGwire, again. Look once more at data of home runs hit by Mark McGwire during his 16-year career as seen in Exercise 34. a) Would you use the mean or the median to summarize the center of this distribution? Why?
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