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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Toyota Camry Prices - Historic data suggest that among US teens and young adults the demand for buying used Toyota Camry is high. Suppose that the price of a used Toyota Camry is normally distributed with an average price of $7440 and a standard deviation of $538. Enter all answers rounded to 4 decimal places. 1. What proportion of used Toyota Camrys cost between $6800 and $8100? 2. What proportion of used Toyota Camrys cost less than $6800? 3. Suppose you want to purchase a used Toyota Camry. What is the chance that a randomly selected used Toyota Camry would cost more than $8100? 4. What is the cutoff price of used Toyota Camry in the top 26% price range? 5. What is the price of used Toyota Camry at the 9th percentile?
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Blood In pharmacologic research a variety of clinical chemistry measurements are routinely monitored closely for evidence of side effects of the medication under study. Suppose typical blood-glucose levels are normally distributed, with mean = 93 mg/dL and standard deviation = 37 mg/dL. (Assume that blood-glucose levels can be measured exactly and no continuity correction is necessary.) Chemistry USE SALT (a) If the normal range is 65-120 mg/dL, then what percentage of values will fall in the normal range? (Round your answer to two decimal places.) % (b) In some studies only values at least 1.5 times as high as the upper limit of normal are identified as abnormal. What percentage of values would fall in this range? (Round your answer to two decimal places.) % (c) What percentage of values would fall in the range of at least 2.0 times the upper limit of normal? (Round your answer to two decimal places.) % (d) Frequently, tests that yield abnormal results are repeated for confirmation.…
The graph illustrates a normal distribution for the prices paid for a particular model of HD television. The mean price paid is $1400 and the standard deviation is $90. What is the approximate percentage of buyers who paid between $1310 and $1490?%What is the approximate percentage of buyers who paid more than $1580?%What is the approximate percentage of buyers who paid less than $1130?%
Use the z-score table in your explanations in addition to the raw scores and z-scores.
Medicare Hospital Insurance The average yearly Medicare Hospital Insurance benefit per person was $4064 in a recent year Suppose the benefits are normally distributed with a standard deviation of $460. Round the final answers to at least four decimal places and intermediate value calculations to two decimal places. Find the probability that the mean benefit for a random sample of 23 patients is more than $4,230.
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The graph illustrates a normal distribution for the prices paid for a particular model of HD television. The mean price paid is $2000 and the standard deviation is $90. 1730 1910 2000 2090 2180 2270 1820 Distribution of Prices What is the approximate percentage of buyers who paid less than $1820? What is the approximate percentage of buyers who paid between $1910 and $2090? What is the approximate percentage of buyers who paid less than $1730? What is the approximate percentage of buyers who paid between $2000 and $2270? What is the approximate percentage of buyers who paid between $1820 and $2000? What is the approximate percentage of buyers who paid between $1910 and $2000?
Section Exercise 7-72 (Algo) Suppose that the distribution of oil prices ($/bbl) is forecast to be 7(43, 57, 109). (a) Find the mean. (Round your answer to 2 decimal places.) Mean (b) Find the standard deviation. (Round your answer to 2 decimal places.) Standard deviation (c) Find the probability that the price will be greater than $100. (Round your answer to 4 decimal places.) Probability
Automobile repairs costs continuous to rise with the average cost now at $367 per repair. Assume that the cost for an automoibles repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. What is the probability that the cost will be more than $450? What is the probability that the cost will be less than $250? What is the probability that the cost will be between $250 and $450? If the cost for your car repairs is in the lower 5% of automobile repair charges, what is your cost? Use excel please

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