About 40% of all US adults will try to inflate an insurance claim to cover the deductible.Suppose that you work at an insurance company and just received 128 insurance claims.You are interested in the number of inflated claims.Is it fair to say this represents a binomial setting? Explain.Would it be reasonable to use the normal approximation? Explain.What is the probability that more than 80 of the claims are inflated?

There is 40% chance in US adults that they will try to inflate an insurance claim to cover the…

Answered: About 40% of all US adults will try to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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We are trying whether, a new low fat diet actually helps obese people lose weight. 100 randomly obese people are assigned to group 1 and put on a low fat-diet. another 100 people are assigned to group 2 and put on a diet of approximately the same amount of food, but not as low in fat. After 4 months, the mean net weight loss was 9.31 pounds for group 1 with a standard deviation of 4.67 pounds, and for group 2 the mean net weight loss was 7.40 pounds with a standard deviation of 4.04 pounds. Is the low-fat diet more effective? Perform a hypothesis test at the 5% significance level a) Define Parameters and state null and alternative hypothesis b) Find test statistics c) Find p-value d) Conclusion
Determine the following probabilities. Leave your answer as a percent to the nearest tenth (one decimal after converting to %). The probability of spinning an even number or multiple of 5 on the equal section spinner with numbers 1-20. Leave your answer as a percent to the nearest tenth (one decimal) after converting to %. You can leave out the % sign.
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The useful life of an electrical component is exponentially distributed with a mean of 4,000 hours. a. What is the probability the circuit will last more than 4,750 hours? b. What is the probability the circuit will last between 4,000 and 4,250 hours? c. What is the probability the circuit will fail within the first 3,750 hours?
Give one method to increase statistical power and Which test statistic should you use if you are comparing two variances?
A certain insecticide kills 60% of all insects in laboratory experiments. A sample of 12 insects is exposed to the insecticide in a particular experiment. What is the probability that exactly 6 insects will die? Round your answer to four decimal places.
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An insurance company sells a $20,000, seven-year term life insurance policy to an individual for $1,700. Find the expected return for the company if the probability the individual will live for the next seven years is 0.92. (Round your answer to the nearest cent.)$
The annual premium for a $20,000 insurance policy against the theft of a painting is $300. If the probability that the painting will be stolen during the year is 0.02, what is your expected return from the insurance company if you take out this insurance? Upload your answer with your work and explanations here
The weight of a package mailed during the holidays follows a uniform distribution and ranges from 2 pounds to 9 pounds. What is the probability that a package is less than 5 pounds? Express answer as a percent with 1 decimal
I need help with this very soon please. If 30% of all pipework failures in the chemical plant were caused by operator error, then the probability that exactly 7 of the failures in the sample are due to operator error would be_______. Since the probability is (greater or less) than 0.05, this ( is or is not) a rare event. The 30% figure (seems or does not seem) reasonable. (Round to four decimal places)
Calculate the probability from the z-table. a. ?(? > −0.45) b. ?( ? < 2.10) c. ?(0 < ? < 2.10) d. ?(−0.45 < ? < 2.10)

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