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1. A whole-life insurance contract provides for 1 unit payable at the moment of death. Level premiums are payable continuously for life at the annual rate of 0.08. The force of mortality is a constant 0.05, and the force of interest is a constant 0.10. How many contracts must be sold in order that there is at least a 95% chance that the total premiums on all these contracts will cover the total benefits? Use a normal approximation.
2. An insurer sells 100 whole-life insurance policies each providing for 1 unit payable at the moment of death. Level premiums are payable continuously for life. The force of interest is a constant 0.06, and the force of mortality is a constant 0.04. What should the rate of premium payment be on each policy, in order that there is a 95% chance that total premiums on all 100 policies will cover the total benefits on all policies? Use a normal approximation.
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Give a 99% confidence interval for the mean number of years general managers of major-chain hotels have spent with their current company.
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a random sample of 144 observations has a mean of 20 a median of 21 and a mode of 22. the population standard deviation
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If demand is normally distributed, a basic EOQ is appropriate. a single-period model could not be appropriate. we should produce to fill demand, rather than filling it through orders.
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Compute the projected profit for the order quantities suggestedby the management team under three scenarios: worst case in whichsales = 10,000 units, most likely case in which sales = 20,000units.
If the student IQ score is 90, what is the probability that another student randomly selected has an IQ score of below 90?
a large university is interested in learning about the average time it takes students to drive to campus. the
Its probability distribution is as follows. Find the standard deviation of the number of houses sold. A. 2.25 B. 2.62 C. 1.62 D. 6.86 E. 4.45.
use the one-proportion z-test to perform an appropriate hypothesis test. be sure to check the conditions for using that
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