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Actuaries use various parameters when evaluating the for the evaluation. Each year, the actuaries at a partic independently from year to year) to see whether the below. Current Year ₁ = 75.9=42.3 Last Year x₂ = 76.2 s=47.6 (The first row gives the sample means, and the secon Assuming that life spans are approximately normally a 99% confidence interval for, the ratio of the v 0₂ limit and upper limit of the 99% confidence interval. Carry your intermediate computations to at least thre formulas.) Lower limit: Upper limit: X

Actuaries use various parameters when evaluating the for the evaluation. Each year, the actuaries at a partic independently from year to year) to see whether the below. Current Year ₁ = 75.9=42.3 Last Year x₂ = 76.2 s=47.6 (The first row gives the sample means, and the secon Assuming that life spans are approximately normally a 99% confidence interval for, the ratio of the v 0₂ limit and upper limit of the 99% confidence interval. Carry your intermediate computations to at least thre formulas.) Lower limit: Upper limit: X

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 15PPS
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Actuaries use various parameters when evaluating the cost of a life insurance policy. The variance of the life spans of a population is one of the parameters used for the evaluation. Each year, the actuaries at a particular insurance company randomly sample 20 people who died during the year (with the samples chosen independently from year to year) to see whether the variance of life spans has changed. The life span data from this year and from last year are summarized below. Current Year x₁ = 75.9 =42.3 Last Year x₂=76.2 s=47.6 (The first row gives the sample means, and the second row gives the sample variances.) Assuming that life spans are approximately normally distributed for each of the populations of people who died this year and people who died last year, construct a 99% confidence interval for the ratio of the variance of the life span for the current year to the variance of the life span for last year. Then find the lower " 03 limit and upper limit of the 99% confidence interval. Carry your intermediate computations to at least three decimal places. Write your final responses to at least two decimal places. (If necessary, consult a list of formulas.) Lower limit: Upper limit: X
Transcribed Image Text:Actuaries use various parameters when evaluating the cost of a life insurance policy. The variance of the life spans of a population is one of the parameters used for the evaluation. Each year, the actuaries at a particular insurance company randomly sample 20 people who died during the year (with the samples chosen independently from year to year) to see whether the variance of life spans has changed. The life span data from this year and from last year are summarized below. Current Year x₁ = 75.9 =42.3 Last Year x₂=76.2 s=47.6 (The first row gives the sample means, and the second row gives the sample variances.) Assuming that life spans are approximately normally distributed for each of the populations of people who died this year and people who died last year, construct a 99% confidence interval for the ratio of the variance of the life span for the current year to the variance of the life span for last year. Then find the lower " 03 limit and upper limit of the 99% confidence interval. Carry your intermediate computations to at least three decimal places. Write your final responses to at least two decimal places. (If necessary, consult a list of formulas.) Lower limit: Upper limit: X
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