Mr. Kester has started an actuarial consulting firm in Des Moines and has rented a building to be used as the office of his firm. The probability that a tornado would strike his office during the upcoming year is 0.03. If a tornado strikes, the damage to his office would be uniformly distributed between $5,000 and $35,000. Assuming only one tornado may strike per year, calculate the variance of the tornado damage to Mr. Kester’s office during the upcoming year
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Mr. Kester has started an actuarial consulting firm in Des Moines and has rented a building to be used as the office of his firm. The probability that a tornado would strike his office during the upcoming year is 0.03. If a tornado strikes, the damage to his office would be uniformly distributed between $5,000 and $35,000.
Assuming only one tornado may strike per year, calculate the variance of the tornado damage to Mr. Kester’s office during the upcoming year
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- A diabetic person is interested in determining how the amount of aerobic exercise impacts his blood sugar. When blood sugar reaches 170 mg/dl, he goes out for a run at a pace of 10 minutes per mile. On different days, he runs different distances and measures his blood sugar after completing his run. The preferred blood sugar level is in the range of 80 to120 mg/dl. Levels that are too low or too high are extremely dangerous. The data generated are given in the following table: Distance (miles),x Blood sugar(mg/dl gram),y 2 136 2 146 2.5 131 2.5 125 3 120 3 116 3.5 104 3.5 95 4 85 4 94 4.5 83 4.5 75 Based on the scenario above, analyse the data with appropriate statistical methods and describe your findings in details. Use alpha=0.05 [note: use hypothesis, test statistics confidence interval etc.] ]Can you explain how I can find the variance for the data using the formula provided? I don’t understand what the numbers for E and X are.At a research facility that designs rocket engines, researchers know that some engines fail to ignite as a result of fuel system error. From a random sample of 40 engines of one design, 14 failed to ignite as a result of fuel system error. From a random sample of 30 engines of a second design, 9 failed to ignite as a result of fuel system error. The researchers want to estimate the difference in the proportion of engine failures for the two designs. Which of the following is the most appropriate method to create the estimate? A one-sample zz-interval for a sample proportion A A one-sample zz-interval for a population proportion B A two-sample zz-interval for a population proportion C A two-sample zz-interval for a difference in sample proportions D A two-sample zz-interval for a difference in population proportions
- The owner of a small firm has just purchased a personal computer, which she expects will serve her for the next two years The owner has been told that she "must" buy a surge suppressor to provide protection for her new hardware against possible surges or variations in the electrical current, which have the capacity to damage the computer The amount of damage to the computer depends on the strength of the surge. It has been estimated that there is a 1% chance of incurring 350 dollar damage, 4% chance of incurring 200 dollar damage, and 10% chance of incurring 125 dollar damage from a surge within the next two years. An inexpensive suppressor, which would provide protection for only one surge, can be purchased. How much should the owner be willing to pay if she makes decisions on the basis of expected value? Expected value = Preview My Answers Submit Answers You have attempted this problem 0 times. You have unlimited attempts remaining.The toco toucan, the largest member of the toucan family, possesses the largest beak relative to body size of all birds. This exaggerated feature has received various interpretations, such as being a refined adaptation for feeding. However, the large surface area may also be an important mechanism for radiating heat (and hence cooling the bird) as outdoor temperature increases. The table contains data for beak heat loss, as a percentage of total body heat loss from all sources, at various temperatures in degrees Celsius. The data show that beak heat loss is higher at higher temperatures and that the relationship is roughly linear. [Note: The numerical values in this problem have been modified for testing purposes.] Temperature (oC)(oC) Percent heat loss from beak 1515 3434 1616 3535 1717 3333 1818 3333 1919 3535 2020 4848 2121 5454 2222 5252 2323 4545 2424 5050 2525 4444 2626 5454 2727 5959 2828 6262 2929 6464 3030 6161 Adapted from a graph in…To the Internal Revenue Service (IRS), the reasonableness of total itemized deductions depends on the taxpayer's adjusted gross income. Large deductions, which include charity and medical deductions, are more reasonable for taxpayers with large adjusted gross incomes. If a taxpayer claims larger th average itemized deductions for a given level of income, the chances of an IRS audit are increased. Data (in thousands of dollars) on adjusted gross income and the average or reasonable amount of itemized deductions follow. Adjusted Gross Income ($1,000s) 22 Itemized Deductions ($1,000s) 9.6 27 9.6 32 10.1 48 11.1 65 11.5 85 120 19.7 23.5 (a) Develop a scatter diagram for these data with adjusted gross income as the independent variable. 30 25 20 15 • 10 5 Itemized Deductions ($1,000s) 0 20 40 60 80 100 120 Adjusted Gross Income ($1,000s) 140 30 25 20 15 10 5. Itemized Deductions ($1,000s) 30 25 20 15 10 • 15 • 10 5- 0 20 40 60 80 100 120 140 0 Adjusted Gross Income ($1,000s) 20 40 60 80 100…
- Answer A, B1, and B2: A. The National Institute of Mental Health published an article stating that in any one-year period, approximately 9.5 percent of American adults suffer from depression or a depressive illness. Suppose that in a survey of 100 people in a certain town, seven of them suffered from depression or a depressive illness. Conduct a hypothesis test to determine if the true proportion of people in that town suffering from depression or a depressive illness is lower than the percent in the general adult American population. B. Researchers interested in lead exposure due to car exhaust sampled the blood of 52 police officers subjected to constant inhalation of automobile exhaust fumes while working traffic enforcement in a primarily urban environment. The blood samples of these officers had an average lead concentration of 124.32 µg/l and a SD of 37.74 µg/l; a previous study of individuals from a nearby suburb, with no history of exposure, found an average blood level…A researcher collected data from a sample of correctional officers and found that, on average, they made 47,173 dollars a year with S=6,364. Assuming that their salaries were normally distributed what proportion of correctional officers make less than 40,000 dollars a year?You may need to use the appropriate technology to answer this question. An automobile dealer conducted a test to determine if the time in minutes needed to complete a minor engine tune-up depends on whether a computerized engine analyzer or an electronic analyzer is used. Because tune-up time varies among compact, intermediate, and full-sized cars, the three types of cars were used as blocks in the experiment. The data obtained follow. Analyzer Computerized Electronic Compact 50 41 Car Intermediate 54 44 Full-sized 64 47 Use a = 0.05 to test for any significant differences. State the null and alternative hypotheses. O Ho: MCompact = "Intermediate = HFull-sized H: "Compact * "Intermediate * "Full-sized O Ho: "Compact * "Intermediate * HFull-sized H: "Compact "Intermediate = "Full-sized O Ho: Computerized = HElectronic H: "Computerized * HElectronic O Ho: "Computerized = HElectronic = "Compact = Intermediate = Full-sized H: Not all the population means are equal. O Ho: HComputerized *…
- Prices of diamonds are very sensitive to their weight (measured in carat). For example, the price of a 1 carat diamond tends to be much higher than the price of a 0.99 carats diamond. To study this phenomenon in more detail, we consider two random samples of diamonds, 0.99 carats and 1 carat, each sample of size 23. The average price of 0.99 carats diamonds in the sample is $4451, while the average price of 1 carat diamonds in the sample is $5681. From long-term studies, we know that both the prices of 0.99 carats diamonds and the prices of 1 carat diamonds are normally distributed with standard deviations oj = $1332 (0.99 carats) and o2 = $1613 (1 carat), respectively. (a) Carry out a hypothesis test at significance level 0.01 to evaluate whether the true average price µi of 0.99 carats diamonds is lower than the true average price µ2 of 1 carat diamonds. Specify Ho and Ha, the test statistic, and calculate the p-value or use p-value considerations to conclude. (b) Compute the type II…Suppose ₁ and ₂ are true mean stopping distances at 50 mph for cars of a certain type equipped with two different types of braking systems. The data follows: m = 9, x = 113.3, s₁=5.01, n = 9, y = 129.6, and s₂ = 5.34. Calculate a 95% CI for the difference between true average stopping distances for cars equipped with system 1 and cars equipped with system 2. (Round your answers to two decimal places.) USE SALT -21.57 1x ) Does the interval suggest that precise information about the value of this difference is available? Because the interval is so narrow, it appears that precise information is available. Because the interval is so narrow, it appears that precise information is not available. Because the interval is so wide, it appears that precise information is available. Because the interval is so wide, it appears that precise information is not available. x -11.06
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