Question 1MarkA disability insurance policy is sold to an individual earning $60,000 per year. The probability of partial disability follows a uniformdistribution over the interval [o, 60,000]. The policy only pays if the loss is greater than 20% of the salary.What is the standard deviation of the payout?A$12,000B$13,900$15,200D$17,300E$19,000Grade & Review >

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Answered: Question 1 Mark A disability insurance…

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...

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ge=28 Returns on investment "A" are normally distributed, with mean return of US$8,500 per year and a standard deviation of US$1,000 per year. Which of the following categories of returns would you fall, if you desire to be in the top 5% of the returns from "A"? Select one: O a. US$8,500 – US$9,000 O b. US$9,800- US$10,500 c. More than US$9,700 O d. More than US$10,100
investigation hypothesises that cholesterol levels in children may be affected by educating parents on proper nutrition and exercise. The sample size is 40 families child aged 10-15 years old with high cholesterol. Children mean cholesterol is 175 stand deviation 19.5 is there significant evidenceo of a relation in total cholesterol/ null value is 191 cholestrol
STATISTICS & PROBABILITY Direction: Solve the following problems. Round off your answer to two decimal places. Use the percentage form and include the percentage symbol (%) The length of time needed to do a particular activity is normally distributed with a mean of 2 hours and a standard deviation of 1.25 hours. What is the probability that a randomly selected student will spend 3.5 hours in doing the activity? The monthly food expenditure of a single person is 3000Php on average with a standard deviation of 300Php. Assuming that the monthly food expenditure is normally distributed, what percentage of these expenditures are between 2400Php and 4000Php? Find the area to the right of z = 1.37 Select one: A. 8.53% B. 43.45% C. 31.76% D. 47.88% Find the area between z = 0.46 and z = 2.56 Select one: A. 43.45% B. 31.76% C. 30.15% D. 97.98% Find the area between z = 0 and z = -2.03 Select one: A. 43.45% B. 47.88% C. 8.53% D. 31.76% Find the area to the left…
High school students across the nation compete in a financial capability challenge each year by taking a National Financial Capability Challenge Exam. Students who score in the top 13 percent are recognized publicly for their achievement by the Department of the Treasury. Assuming a normal distribution, how many standard deviations above the mean does a student have to score to be publicly recognized? (Round your answer to 2 decimal places.)
Scores obtained by students in an advanced placement test has a symmetric mound shaped (bell shaped) distribution with a mean of 70 and a standard deviation of 10. What is the proportion of students who received between 60 and 80 points. not enough information about 68% about 99.7% about 95%
Dashboard Question A donut shop that specializes in unique donuts made from potatoes wants to learn more about their business costs. Past data reveals that the cost for fifty pounds of potatoes has a mean of $75 with standard deviation $13. The normal distribution for the population is shown by the dotted black line. The donut shop plans to take a random sample of 31 such fifty pound bags of potatoes and will calculate the mean cost of the sample to compare to the known cost. Compute the mean and standard deviation of the sampling distribution of sample means for a sample of size 31. Round your answers to the nearest tenth. Show your answer by moving the two draggable points to build the sampling distribution. Sorry, that's incorrect. Try again? -0-2- -0-15- -0-1- -0:05- 3 60 The population has a normal distribution- with mean 75 and standard deviation 13. 65 80 F3 4 M= = 75 X 70 F4 75 % 5 F5 80 < 6 85 S F6 90 & 7 FEEDBACK F7 8 DII F8 VIEW ANSWER 8: 7.1.1 Central Limit Theorem for M 9…
Multiple questions
Using Chebyshev's theorem and the normal distribution, compare the probability that a number will lie within 3 standard deviations of the mean of a probability distribution. Explain what is observed. .... The probability a number will lie within 3 standard deviations of the mean according to Chebyshev's theorem is (Type an integer or decimal rounded to four decimal places as needed.)
ENGINEERING DATA ANALYSIS Please write the complete solutions and legibly. UPVOTE WILL BE GIVEN! Answer in 4 decimal places.
high school students across the nation compete in a financial capability challenge each year by taking a National Financial Capability Challenge Exam. Students who score in the top 76 percent are recognized publicly for their achievement by the Department of the Treasury Assuming a normal distribution, how many standard deviations above the mean does a student have to score to be pubicly reconized? (round your answer to 2 decimal places) standard deviation
Assignment After collecting considerable data, the engineers decided to model the variation in shaft diameter as a normal distribution with mean 10.1 mm and standard deviation 2.7 mm. (a) For the next shaft, what is the probability that its diameter is between 8.5 mm and 13.0 mm? (b) According to the normal model, what proportion of the shafts have diameter between 8.5 mm and 13.0 mm? (c) What proportion of the shafts have diameter greater than 15.1 mm?
mnomy use the standard deviation of the monthly percentage return for a mutual fund as a measure of the risk for the fund; in such cases, a fund that has a larger standard deviation is considered more risky than a fund with a lower standard deviation. The standard deviation for the American Century Equity Growth fund and the standard deviation for the Fidelity Growth Discovery fund were recently reported to be 15.0% and 18.9%, respectively. Assume that each of these standard deviations is based on a sample of 60 months of returns. Do the sample results support the conclusion that the Fidelity fund has a larger population variance than the American Century fund? Which fund is more risky? (17. ) Most individuals are aware of the fact that the average annual repair cost for an auto- mobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age of the auto- mobile. A sample of 26…

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