EBK STATISTICAL TECHNIQUES IN BUSINESS
17th Edition
ISBN: 9781259924163
Author: Lind
Publisher: MCGRAW HILL BOOK COMPANY
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Chapter 8, Problem 27CE
a.
To determine
Find the population
b.
To determine
Find the possible number of different samples of two test grades.
c.
To determine
Give the all possible
Find the mean of each sample.
d.
To determine
Find the mean of the distribution of the sample mean.
Compare the mean of the sample means to the population mean.
e.
To determine
Give the brief report of whether it can be liked the arrangement or not in the student point of view.
Give the brief report of whether the result can be different from dropping the lowest score.
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30. An individual who has automobile insurance from a certain company is randomly selected. Let Y be the num- ber of moving violations for which the individual was cited during the last 3 years. The pmf of Y isy | 1 2 4 8 16p(y) | .05 .10 .35 .40 .10
a.Compute E(Y).b. Suppose an individual with Y violations incurs a surcharge of $100Y^2. Calculate the expected amount of the surcharge.
24. An insurance company offers its policyholders a num- ber of different premium payment options. For a ran- domly selected policyholder, let X = the number of months between successive payments. The cdf of X is as follows:
F(x)=0.00 : x < 10.30 : 1≤x<30.40 : 3≤ x < 40.45 : 4≤ x <60.60 : 6≤ x < 121.00 : 12≤ x
a. What is the pmf of X?b. Using just the cdf, compute P(3≤ X ≤6) and P(4≤ X).
Chapter 8 Solutions
EBK STATISTICAL TECHNIQUES IN BUSINESS
Ch. 8 - Prob. 1SRCh. 8 - Prob. 2SRCh. 8 - The following is a list of 24 Marcos Pizza stores...Ch. 8 - The following is a list of 29 hospitals in the...Ch. 8 - Listed below are the 35 members of the Metro...Ch. 8 - Listed next are the 27 Nationwide Insurance agents...Ch. 8 - The years of service of the five executives...Ch. 8 - Prob. 5ECh. 8 - Prob. 6ECh. 8 - Prob. 7E
Ch. 8 - Prob. 8ECh. 8 - Prob. 9ECh. 8 - There are five sales associates at Mid-Motors...Ch. 8 - Prob. 4SRCh. 8 - Prob. 11ECh. 8 - Prob. 12ECh. 8 - Prob. 5SRCh. 8 - Prob. 15ECh. 8 - Prob. 16ECh. 8 - Prob. 17ECh. 8 - Prob. 18ECh. 8 - Prob. 19CECh. 8 - The Medical Assurance Company is investigating the...Ch. 8 - Prob. 21CECh. 8 - Prob. 22CECh. 8 - Prob. 23CECh. 8 - Prob. 24CECh. 8 - Prob. 25CECh. 8 - As a part of their customer-service program,...Ch. 8 - Prob. 27CECh. 8 - Prob. 28CECh. 8 - Prob. 29CECh. 8 - The Appliance Center has six sales representatives...Ch. 8 - Prob. 31CECh. 8 - Prob. 32CECh. 8 - Prob. 33CECh. 8 - Prob. 34CECh. 8 - Prob. 35CECh. 8 - A recent study by the Greater Los Angeles Taxi...Ch. 8 - Prob. 37CECh. 8 - Prob. 38CECh. 8 - Prob. 39CECh. 8 - Prob. 40CECh. 8 - Prob. 41CECh. 8 - Human Resource Consulting (HRC) surveyed a random...Ch. 8 - Over the past decade, the mean number of hacking...Ch. 8 - Prob. 44CECh. 8 - Prob. 45CECh. 8 - Prob. 46DACh. 8 - Prob. 47DACh. 8 - Prob. 48DA
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