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1. If you were to toss a fair coin eight times, among the sequences below, which one(s) do you think would be most likely (i.e. having the largest probability) to occur?
(i) HHHHHHHH, (ii) HHTHTHHT, (iii) HHHHTTTT, (iv) HTTHTHHT
(H denotes tossing a head; T denotes tossing a tail)
2. Suppose an insurance company charges $800 per year for a certain health insurance policy with a maximum payout of $20,000 when customer makes a claim. Each year, 3% of the customers submit a claim.
What is the average gain of the insurance company per customer who buys this policy?
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State and explain the Central Limit Theorem
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Married Adults. In a recent year, 125.8 million adults, or 58.6% of the adult American population, were married. In a New England town, a simple random sample of 1,445 adults includes 56.0% who are married. Use a 0.05 significance level to test..
Find the mean, median, mode, variance and standard deviation for the following nine data values and find the four quartiles and the 20 th and 80 th percentiles for the above data.
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