### Statistics: Probability Calculations for Auto Insurance CostsCNNBC recently reported that the mean annual cost of auto insurance is $1027. Assume the standard deviation is $243. You take a simple random sample of 70 auto insurance policies.#### Task 1: Probability of a Single Randomly Selected ValueFind the probability that a single randomly selected value is less than $981.\[ P(X < 981) =\ \_\_\_\_ \]#### Task 2: Probability for a Sample MeanFind the probability that a sample of size $ n = 70 $ is randomly selected with a mean less than $981.\[ P(M < 981) = \ \_\_\_\_ \]Enter your answers as numbers accurate to 4 decimal places.

Given: CNNBC recently reported that the mean annual cost of auto insurance is 1027 dollars. Assume…

Answered: CNNBC recently reported that the mean…

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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Assume that people playing World of Warcraft in a week has a normal distribution with a mean of 54 hours and a standard deviation of 11 hours. Find the probability that a randomly selected person played more than 89 hours. Round to four decimals places.
CNNBC recently reported that the mean annual cost of auto insurance is 1026 dollars. Assume the standard deviation is 281 dollars. You take a simple random sample of 55 auto insurance policies. Assuming the original population forms a bell-shaped distribution, answer the following and round your answers to three decimals. Find the probability that a single randomly selected value exceeds 962 dollars. P(X 962) = Find the probability that a sample of size n = 55 is randomly selected with a mean that exceeds 962 dollars. P(M>962) = Get Help: VIDEO
The amount of time spent by customers in a store follows a normal distribution with a mean of 30 minutes and a standard deviation of 5 minutes. What is the probability that a randomly selected customer spends between 25 and 35 minutes in the store? The IQ scores of a population follow a normal distribution with a mean of 100 and a standard deviation of 15. What percentage of the population has an IQ score between 85 and 115?
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