Suppose a life insurance company sells a ​$170,000 ​1-year term life insurance policy to a 20​-year-old female for ​$170. According to the National Vital Statistics​ Report, 58(21), the probability that the female survives the year is 0.999544. The expected value of this policy to the insurance company is ​$92.48. What is the standard deviation of the value of the life insurance​ policy? Why is the value so​ high?

Q: The average number of electronic messages received in a day on a smartphone is 15. If the standard…

A: Given information: μ=15σ=4

Q: The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard…

A: We want to find given probability for given questions

Q: The average price for a gallon of gasoline in the United States is $3.76 and in Russia it is $3.39.…

A: The Z-score of a random variable X is defined as follows: Z = (X – µ)/σ. Here, µ and σ are the mean…

Q: The monthly utility bills in a city are normally​ distributed, with a mean of $100 and a standard…

A:

Q: The average credit card debt for Americans is $5,725. If the debt is normally distributed with a…

A:

Q: The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard…

A:

Q: according to a survey conducted by wedding book, women who celebrated valentines day last year spend…

A: given data, normal distribution μ=86σ=27 probability that a randomly selected woman who celebrated…

Q: e monthly utility bills in a city are normally​ distributed, with a mean of ​$100   and a standard…

A: Given: Mean, μ=100 Standard deviation, σ=15 (a)  Probability that a randomly selected utility bill…

Q: Consider a gamble with a 40% chance of winning $10 and a 60% chance of losing $10. What is the…

A: Given data: The given chance of winning is P(W)=40%=0.40. The given chance of losing is…

Q: The life, in hours, of a battery produced by company A has a normal distribution with mean 20 and…

A: Introduction: Denote the random variable representing the life (hours) of a randomly selected…

Q: Suppose that the monthly charges for cell phone plans in the United States are normally distributed…

A: Let:Monthly charges for cellphone plans = xGiven that:Monthly charges for cellphone plans (x) in the…

Q: Suppose a life insurance company sells a $160,000 1-year term life insurance policy to a 20-year-old…

A: Given :Prob. of female survives ( p ) = 0.999544The amount a female need to pay to company = $210The…

Q: Suppose a life insurance company sells a $160,000 1-year term life insurance policy to a 20-year-old…

A: The question is about application of discrete prob. distribution Given : Prob. of female survives (…

Q: The producer of a weight-loss pill advertises that people who use the pill lose, after one week, an…

A: We want to find the probability of sample mean is 1.77 or more  P(x̄≥1.77)

Q: Andrew plans to retire in 40 years. He plans to invest part of his retirement funds in stocks, so he…

A: The standard normal distribution is a distribution that is derived from a normal distribution. We…

Q: builtrite has calculated average weekly daily sales to be 80000 with a standard deviation of 12000.…

A: Mean()=80000standard deviation()=12000 one store manager made a bet with another store manager that…

Q: The producer of a weight-loss pill advertises that people who use the pill lose, after one week, an…

A:

Q: A company is considering drilling four oil wells. The probability of success for each well is 0.45,…

A: Solution: Let X be the number of success in  drilling  oil wells.  The probability of  success for…

Q: The average number of pounds of red meat a person consumes each year is 196 with a standard…

A: We are given,μ = 196σ = 22n = 60

Q: An appliance dealer's website features the mean life expectancy values for major household…

A:

Q: An insurance policy to cover damages on a uhaul truck for duration of rental is $900. Based on…

A: Given: Insurance policy cover damages of rental is = $900 The average repair cost is = $1100 Numbers…

Q: The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard…

A: Provided information is ; Let X be the monthly utility bill mean(μ) = 100 standard deviation(σ)=15…

Q: soon-to-be-introduced cell phone has an expected service life that can be modeled by a normal…

A: Given Consider the following information given - Mean service life = 6 years Standard deviation of…

Q: The average monthly mortgage payment including principal and interest is $982 in the United States.…

A: We have to find..P(X>1225) =?

Q: The producer of a weight-loss pill advertises that people who use the pill lose, after one week, an…

A: To find: what is the probability that the mean weight loss after one week on this pill for a random…

Q: The monthly utility bills in a city are normally​ distributed, with a mean of ​$100 and a standard…

A:

Q: IUSS pill advertises that people who use the pill lose, after one week, an average (mean) of 1.8…

A: We have given that  X~N( μ , ?^2 )   Z-score =( x - μ )/?

Q: Data from the Bureau of Labor Statistics’ Consumer Expenditure Survey show that annual expenditures…

A: Given information- For the year 2001- Population mean, µ = $235 Population standard deviation, σ =…

Q: The probability that a randomly chosen student in a statistics class submits his/her homework on…

A: From the provided information, The probability that a randomly chosen student in a statistics class…

Q: The monthly utility bills in a city are normally​ distributed, with a mean of $100 and a standard…

A: (a) Let x be the monthly utility bills in a city which follows normal distribution with mean 100,…

Q: The monthly utility bills in a city are normally​ distributed, with a mean of $100 and a standard…

A: X follows a Normal distribution with mean = 100 and S.D = 13 Then z=(x-mean)/SD = (x-100)/13…

Q: The producer of a weight-loss pill advertises that people who use the pill lose, after one week, an…

A:

Q: The producer of a weight-loss pill advertises that people who use the pill lose, after one week, an…

A:

Q: You have just started a coffee stand at the Saturday Market, and you prepare fresh brewed coffee…

A: Mean =10, standard deviations=sd=1.2

Q: The maternity ward at a certain hospital in a certain country in Africa is one of the busiest in the…

A: Givenon average of 60 births per dayfor one hour=6024=2.5Let x be the number of births in an…

Q: The producer of a weight-loss pill advertises that people who use the pill lose, after one week, an…

A: Given that mean =1.85,s.d =1.02,n=55,x bar =1.88

Q: The monthly utility bills in a city are normally​ distributed, with a mean of $100 and a standard…

A:

Q: A young investment manager tells his client that the probability of making a positive return with…

A:

Q: ortion of firms will earn a return between 4% and 8%? B   To the nearest percent find the…

A: given: mean (μ)= 7.5 standard deviation(σ)=2.5

Q: A professor knows that her statistics students' final exam scores have a mean of 79 and a standard…

A:

Q: On average, TV crash after 109,000 hours of continuous use. Although the time for the TV to crash is…

A: From the provided information, On average, TV crash after 109000 hours of continuous use that is…

Q: Suppose a life insurance company sells a ​$240,000 ​1-year term life insurance policy to a…

A: Given   Suppose a life insurance company sells a ​$240,000 ​1-year term life insurance policy to a…