An insurance company knows that the average cost to build a home in a new California subdivision is ​$96,618 and that in any particular year there is a 1 in 3 chance of a wildfire destroying all the homes in the subdivision. Based on these data and assuming the insurance company wants a positive expected value when it sells​ policies, what is the minimum the company must charge for fire insurance policies in this​ subdivision?

Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A: We have given that n = 215 r = 46 p = 0.301 p̂ = r/n =46/215 = 0.2140

Q: Part (b) O Part (c) O Part (d) Construct a 95% confidence interval for the population average worth…

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Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A:

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Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

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A: Given: Sample size, n = 215 x = 91 Population proportion, p = 0.57  significance level

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A:

Q: Recall that Benford's law claims that numbers chosen from very large data files tend to have "1" as…

A: Given: Sample size, n=218 r = 47 Sample proportion: p^=rn=47218=0.2156 Set the null and alternative…

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A: Here a Data set of the expected lifetime earnings for five occupations is given.

Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A: Given information- Population proportion, p = 0.301 Sample size, n = 218 The entries had a first…

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Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: 1. By predicting fertility and divorce rates as well as life-styles economic, demographers attempt…

A: Result Sum of relative frequency=1

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Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A: Let r be the number of persons possessing the given attribute in a sample of size 'n'. Let p^…

Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A:

Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A: Given that  The Population proportion is =0.301 Sample size (n)=225 The number of first non zero…

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Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A: Given : Claim : p is less than 0.301.

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Q: Recall that Benford's Law claims that numbers chosen from very large data files tend to have "1" as…

A:

Q: Test the claim that p is more than 0.301. Use ? = 0.10 (a) What is the value of the sample test…

A: Given that Sample size n = 228 Number with leading digit 1 = 85 Level of significance = 0.10

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A: x (x-xbar)^2 78 0.04 75 10.24 83 23.04 81 7.84 81 7.84 77 1.44 78 0.04 79 0.64 79…

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