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ABC insurance sells term life insurance policies. If the plicy holder dies during the term of the policy ABC pays out $100000. If the person does not die ABC pays nothing and there is no further value to the policy. ABC has determined through actuarial tables that an individual with certain issues has a 0.001 chance that they will die during the next year and a 0.999 chance that they will live and the company will pay nothing. The cost of this policy is $200 per year. Based on the EMV criterion should the individual buy this policy? How would utility theory help explain why a person would buy this policy?
At the .01 level of significance, is the mean grade of the female students higher than that of the males?
A random sample of 100 observations is obtained from a normally distributed population with a standard deviation of 10. What is a 95% confidence interval for the mean of the population if the sample mean is 40?
Find the prediction equation for the price of a laptop using rating and features. What is the value of the residual standard deviation?
The number of lightning strikes in a year at the top of a particular mountain has a Poisson distribution with a mean of 4.2. Find the probability that in a randomly selected year, the number of lightning strikes is 0.
A mean score on a standardized test is 50 with a standard deviation of 10. Answer the following
Suppose that the number of calories in McDonald's Egg McMuffin is normally distributed random variable with mean of 290 calories and standard deviation of 14 calories.
The distribution of diastolic blood pressures for the population of female diabetics between the ages of 30 and 34 has an unknown mean μd and a standard deviation σd = 9.1 mm Hg.
Based on your experience using ANOVA and Nonparametric tests, what additional information would you recommend to the key decision maker solve the challenges given in a company that provides software solutions to wide range of clients?
Estimate a test statistic for null hypothesis H0: μ = 30 against two-sided alternative hypothesis H1 : μ ≠ 30, and by plotting this on its reference distribution.
The Globe Fishery packs shrimp that weigh more than 1.91 ounces each in packages marked" large" and shrimp that weigh less than 0.47 ounces each into packages marked "small"; the remainder are packed in "medium" size packages.
The mean return for the random sample of 33 mutual funds is 14.93 percent with a standard deviation of 9.57. Test the null hypothesis: H0: mu = 15% at α = 0.05.
Operations manager thinks that only 10% of room service orders must take longer than 25 minutes if hotel has good customer service. Does hotel room service fulfil this goal?
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