Parts a, b, and d and explian how it was done.DON'T USE EXCEL, please do the work manually if you can **5.28 Variable life insurance return rates:**Refer to the *International Journal of Statistical Distributions* (Vol. 1, 2015) study of a variable life insurance policy, Exercise 4.97 (p. 239).Recall that a ratio (\(x\)) of the rates of return on the investment for two consecutive years was shown to have a normal distribution, with \(\mu = 1.5\) and \(\sigma = 0.2\). Consider a random sample of 100 variable life insurance policies and let \(\overline{x}\) represent the mean ratio for the sample.a. **Find \(E(\overline{x})\)** and interpret its value.b. **Find \(Var(\overline{x})\).**c. **Describe the shape of the sampling distribution of \(\overline{x}\).**d. **Find the z-score for the value \(\overline{x} = 1.52\).**e. **Find \(P(\overline{x} > 1.52)\).**f. **Would your answers to parts a–e change if the rates (\(x\)) of return on the investment for two consecutive years were not normally distributed? Explain.**

Answered: Parts a, b, and d and explian how it…

Parts a, b, and d and explian how it was done. DON'T USE EXCEL, please do the work manually if you can

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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