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An insurance company's records show that the mean payout for all automobile claims is $1800 and the standard deviation is $400. Suppose 90 claims are filed in one week. What is the probability that the average (sample mean) is more than $1900?
Statistics and Probability, Statistics
A. Fifteen percent of the U.S. population is greater than 65 years of age. If a sample of 100 persons is chosen, what is the probability that fewer than 10 are more than 65 years old? B. In a sample of size 100 from the ...
Diastolic blood pressures are approximately normally distributed with a mean of 75 and a standard deviation of 10. If we consider samples of 20 patients, what is the 90th percentile of the mean diastolic blood pressure?
An equally weighted portfolio consists of 41 assets which all have a standard deviation of 0.137. The average covariance between the assets is 0.118. What is the standard deviation of this portfolio expressed as a percen ...
The time to complete 1 construction project for company A is exponentially distributed with a mean of 1 year. Therefore: (a) What is the probability that a project will be finished in one and half years? (b) What is the ...
At station A, the egg hatch rate (computed from a set of 100 eggs at a time) is known to follow approximately a normal distribution with mean 62% and standard deviation 5%. At station B, the egg hatch rates are known to ...
When circuit boards used in the manufacture of compact disc players are tested, the long run percentage of defectives is 5%. Let X= the number of defective boards in random sample of size n=25, so X ~ Bin( 25, .05). a) ...
A perpetuity pays $4300 at the end of every month for 11 months of each year. At the end of the 12th month of each year, it pays double that amount. If the effective ANNUAL rate is 9%, what is the present value of this p ...
Anystate Auto Insurance Company took a random sample of 388 insurance claims paid out during a 1-year period. The average claim paid was $1575. Assume σ = $240. Find a 0.90 confidence interval for the mean claim paymen ...
Question 1. Many high school students take the AP tests in different subject areas. In 2007, of the 144,796 students who took the biology exam 84,199 of them were female. In that same year,of the 211,693 students who too ...
Interested in learning more about its fans, the marketing office of the Arena Football League (AFL) conducted a survey at one of its games. The survey had 952 respondents, 679 males and 273 females. Out of the 952 total ...
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