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Applying the Central Limit Theorem
A nationwide study found that the average yearly claim per automobile insurance policy (after deductible) is $1,000 with a standard deviation of $400. Consider these parameter values to be the true population parameters. Suppose that you are working for a small, start-up insurance company with only 625 automobile insurance policies, and the company has $605,000 to pay for claims next year. What is the probability that the company will not have enough money set aside to pay off the claims next year? If the company does not have enough money set aside, it will declare bankruptcy and you will lose your job. Should you start working on your resume? Show your work and explain.
creates strategic and operational plans based on the SWOT analysis
Design a freeway pavement structure in an urban area for 20 years. An initial annual traffic is 250,000 EASLs and no annual growth factor is considered during design periods. Assume that the reliability and standard deviation are 90% and 0.30, respec..
How important is choosing a location for a brick and mortar business? What are the factors that must be considered? Do these same factors apply to an online business?
Elucidate why cooperative approaches may stand up to legal review more easily in unionized plants than in non-unionized environments
Increasingly accurate voice recognition software and sophisticated software that can interpret commands in natural language are bringing us closer to the days of operating a computer by speaking to it. Would you rather speak to a computer than use a ..
How might a particular country's government be involved in international trade? Discuss how a nation's market size might impact international trade and, in turn, international logistics.
Prepare the case for an optimistic sales manager that you should move ahead with the FMS now.
Why would you need procurement options, include: build it yourself, license and modify, and outsource to an application service provider, when contemplating the acquisition of application specific software (a.k.a. information systems) software?
Discuss the steps involved in organizing an accident record system. Why are following each of these steps important? What type of data is required in an accident record?
There is debate about whether texting or social media add to productivity or waste time. Part of the problem could be that it is hard to quantify the impact of using technology to communicate in the workplace. Do you visit social networking sites or ..
What are some characteristics and provisions of the cost of living escalator clauses and wage reopener arrangements that are part of the unions' efforts to adjust to the lack of dependability the Consumer Price Index (CPI) has demonstrated for fut..
Predatory acts of firms are generally against the law in the United States. Specifically in terms of pricing strategies of firms in various market structures, however, it is possible for competing firms to work together to determine a solution benefi..
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