Auto claim sizes follow a gamma distribution with mean 500 and mode 250.Claim sizes are independent of each other.Assuming there will be 10 claims next year and using the normal approximation, calculate theprobability that the sum of losses next year will exceed 6,000.A0.19в0.29с0.39D0.49E0.61

Given mean=500, mode=250 We want to find the probability

Answered: Auto claim sizes follow a gamma…

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...

See similar textbooks

Similar questions

refer to the photo
Systolic Blood Pressure Assume that the mean systolic blood pressure of normal adults is 120 millimeters of mercury (mmHg) and the standard deviation is 5.6. Assume the variable is normally distributed. Round the answers to at least 4 decimal places and intermediate z-value calculations to 2 decimal places. Part 1 of 3 If an individual is selected, find the probability that the individual's pressure will be between 120 and 122.6 mmHg. P(120 < X < 122.6) = 0.1772 Part: 1 / 3 Part 2 of 3 If a sample of 29 adults is randomly selected, find the probability that the sample mean will be between 120 and 122.6 mmHg. Assume that the sample is taken from a large population and the correction factor can be ignored. P(120 < X < 122.6) = X
Suppose that the lifetime of a particular electronic device has an exponential distribution with a mean of 0.25 years. What is the probability that the device will last longer than seven years? Round your answer to the nearest thousandth. P(T > 7) =
The time it takes a mechanic to change the oil in a car is exponentially distributed with a mean of 6 minutes. What is the probability that it will take a mechanic between 2 and 5 minutes to change the oil? .2820 .1719 .0565 .3678
Delivery times for shipments from a central warehouse are exponentially distributed with a mean of 1.97 days (note that times are measured continuously, not just in number of days). A random sample of 52 shipments are selected and their shipping times are observed. Approximate the probability that the average shipping time is less than 1.67 days. Enter your answer as a number accurate to 4 decimal places. Submit Question Chp -> % 7 8. 60 口 5 %24 %23 3m
IQ scores have a mean of µ=100 in the general population, and have a standard deviation of σ=15. You take a random sample of n=9 people. What is the probability that your sample mean will be M=95 or less?
A car battery's lifetime has an unknown distribution that is symmetric around its average of 800 days. The standard deviation of the lifetime is 50 days. Use Chebyshev's theorem to find an upper bound for the percentage of batteries that last shorter than 550 days? A. 5.56% B. 2.00% O C. 1.39% O D. 3.13%
Age of an animal (X) has the normal distribution with mean = 5, variance = 9; find the probability P(4 < X<8). %3D A. 0.555 B. Answer 0.572 C. Answer 0.495 OD. Answer 0.472

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS