**Problem Context:**In this problem, we explore the probability of insurance claims being padded by using the normal approximation to the binomial distribution. This involves determining whether it's suitable to apply the normal approximation and then calculating certain probabilities based on that.**Scenario:**A survey suggests that approximately 41% of U.S. adults may pad their insurance claims. As the director of an insurance adjustment office, you have 130 claims ready for processing. The task is to estimate various probabilities and round answers to four decimal places.**Questions and Calculations:**1. **Probability that half or more of the claims have been padded:** - Given: `.01831` - The calculation indicates a low probability, suggesting it's unlikely that 65 or more claims are padded.2. **Probability that fewer than 45 claims have been padded:** - Given: `.0694` - This indicates a 6.94% chance that fewer than 45 of the claims have been padded.3. **Probability that between 40 and 64 claims have been padded:** - Given: `.9630` - With a probability of 96.30%, this range covers the most likely number of padded claims.4. **Probability that more than 80 claims have not been padded:** - The answer for this is not provided and should be calculated using the available data.The exercise illustrates using statistical methods to predict behavior in real-world situations, emphasizing understanding statistical distributions and their applications in scenarios like insurance claim assessments.

Given : sample size,n = 130 probability,p = 0.41

Answered: In the following problem, check that it…

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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