What is the distribution of X? X - N(| What is the distribution of x? ¤ ~ N( What is the probability that one randomly selected auto insurance is less than $997?
What is the distribution of X? X - N(| What is the distribution of x? ¤ ~ N( What is the probability that one randomly selected auto insurance is less than $997?
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:CNNBC recently reported that the mean annual cost of
auto insurance is 988 dollars. Assume the standard
deviation is 250 dollars, and the cost is normally
distributed. You take a simple random sample of 14
auto insurance policies. Round your answers to 4
decimal places.
a. What is the distribution of X? X ~ N(
b. What is the distribution of æ? ¤ ~ N(
c. What is the probability that one randomly
selected auto insurance is less than $997?
d. a simple random sample of 14 auto insurance
policies, find the probability that the average
cost is less than $997.
e. For part d), is the assumption of normal
necessary?O Nol
U Yes
Expert Solution
Step 1
Let X denote the annual cost of auto insurance.
Given that mean = 988 and SD = 250
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