An insurance company has 20,000 automobile policyholders. The expected claim per policyholder per year is $260 with a standard deviation of $800. Let X denote the sum of the claims of all the 20,000 policyholders ina year.(a) What is the expected value of X? That is, what is the expected total claim of all 20,000 policyholders per year?Answer: $ [Select](b) What is the standard deviation of X?Answer: $ [Select](c) What is the probability that X exceeds $5,000,000? That is, what is P(X> 5,000,000)?Answer: [Select]

Mean()=$260Standard deviation()=$800Sample of size(n)=20,000Let X denote the sum of the claims of…

Answered: An insurance company has 20,000…

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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Standardized tests: In a particular year, the mean score on the ACT test was 19.7 and the standard deviation was 4.2. The mean score on the SAT mathematics test was 518 and the standard deviation was 103. The distributions of both scores were approximately bell-shaped. Round the answers to at least two decimal places. Find the z-score for an ACT score of 23. Find the z-score for a SAT score of 466.
Pax World Balanced is a highly respected, socially responsible mutual fund of stocks and bonds. Vanguard Balanced Index is another highly regarded fund that represents the entire U.S. stock and bond market (an index fund). The mean and standard deviation of annualized percent returns are shown below. The annualized mean and standard deviation are for a recent 10-years period.†. If x represents return and s represents risk, then explain why the coefficient of variation can be taken to represent risk per unit of return. From this point of view, which fund appears to be better? Explain. A. Since the CV is s/s2 we can say that the CV represents the risk per unit of return; the Pax fund appears to be better because the CV is smaller. B. Since the CV is s/s2 we can say that the CV represents the risk per unit of return; the Vanguard fund appears to be better because the CV is smaller. C. Since the CV is s/x we can say that the CV represents the risk per unit of return; the Pax fund…
= 3 10 Withdrawal symptoms may occur when a person using a painkiller suddenly stops using it. For a special type of painkiller, withdrawal symptoms occur in 2% of the cases, Consider a random sample of 1600 people who have stopped using the painkiller. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p, where p is the proportion of people in the sample who experience withdrawal symptoms. (b) Find the standard deviation of p. (c) Compute an approximation for P(p <0.01), which is the probability that fewer than 1% of those sampled experience withdrawal symptoms. Round your answer to four decimal places.
ge=28 Returns on investment "A" are normally distributed, with mean return of US$8,500 per year and a standard deviation of US$1,000 per year. Which of the following categories of returns would you fall, if you desire to be in the top 5% of the returns from "A"? Select one: O a. US$8,500 – US$9,000 O b. US$9,800- US$10,500 c. More than US$9,700 O d. More than US$10,100
The figure in the popup window, shows the one-year return distribution for RCS stock. Calculate: a. The expected return. b. The standard deviation of the return. Note: Make sure to round all intermediate calculations to at least five decimal places.
A jar contains 3 nickels and 2 dimes. You reach in and randomly select 2 coins. Let Xrepresent the value of the two coins in cents. Find [a] theexpected value of Xand [b] the standard deviation of X.Round answers to 2 decimals. [a] Expected Value: __________ [b] Standard Deviation: __________
The percent of fat calories that a person in America consumes each day is normally distributed with a mean of about 36 and a standard deviation of 10. Suppose that one individual is randomly chosen. Let X = percent of fat calories. Part (a) Give the distribution of X. X-N 36 10 Part (b) Find the probability that the percent of fat calories a person consumes is more than 40. (Round your answer to four decimal places.) X
Solve Part a Suppose X is a normally distributed variable with a mean of 10 and a deviation of 2. Please give a numerical solution for part (a) a. Find p(X<0)
Empirical research on stock market data indicates that over the course of a year, 60% of stocks go up. A random sample of 600 stocks is going to be chosen at the beginning of next year. Let p be the proportion of the stocks in the sample that go up over the course of a year. Answer the following. (If necessary, consult a list of formulas.) (a) Find the mean of p. 0 (b) Find the standard deviation of p. 0 (c) Compute an approximation for P(p>0.64), which is the probability that more than 64% of the stocks in the sample go up over the course of the year. Round your answer to four decimal places. X 5
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