8.15. An insurance company has 10,000 automobile pol-icyholders. The expected yearly claim per policy-holder is $240, with a standard deviation of $800.Approximate the probability that the total yearlyclaim exceeds $2.7 million.

Answer Given,The expected yearly claim per policy holder is 240, with standard deviation of 8001…

Answered: 5. An insurance company has 10,000…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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5. An insurance company has 10,000 automobile pol- icyholders. The expected yearly claim per policy- holder is $240, with a standard deviation of $800. Approximate the probability that the total yearly claim exceeds $2.7 million.