An insurance company knows that in the entire population of

Assignment Help Basic Statistics
Reference no: EM13632642

An insurance company knows that in the entire population of millions of homeowners, the mean annual loss from fire is miu= $150 and the standard deviation of the loss is singama = $600. The distribution of losses is strongly right skewed: most policies have $0 loss, but a few have large losses. If the company sells 10,000 policies, what is the probability that it can safely base its rates on the assumption that its average loss will be no greater than $160?

Reference no: EM13632642

Questions Cloud

Assume that a sample of size 900 is to be taken from a : assume that a sample of size 900 is to be taken from a population that contains 34 people older than 50.a what is the
Explain why we use the notation p lt 05 in the formal test : explain why we use the notation p lt .05 in the formal test of the hypothesis when there is a significant difference
A company wished to study the effectiveness of a coffee : a company wished to study the effectiveness of a coffee break on productivity of its workers. the productiveness of
In particular she does not want the sample mean to deviate : an analyst from an energy research institute in california wishes to precisely estimate a 99 confidence interval of the
An insurance company knows that in the entire population of : an insurance company knows that in the entire population of millions of homeowners the mean annual loss from fire is
Based on the sample results can you conclude that there is : suppose a random sample of 100 u.s. companies taken in 2005 showed that 21 offered high-deductible health insurance
Write the event the student could run a mile in less than : a study of 12000 able-bodied male students at the university of illinois found that their times for the mile run were
A researcher estimates the 95 ci for a sample with a mean : a researcher estimates the 95 ci for a sample with a mean of m 3.26 and a standard error ?m of 0.91. what is the upper
Determine a 95 confidence interval for the population : given below are the values taken from a normal population.21 23 25 27 28 35 30 32 33determine a 95 confidence

Reviews

Write a Review

 

Basic Statistics Questions & Answers

  The rr bowker company collects information on the retail

the r.r. bowker company collects information on the retail prices of books and publishes the data in the bowker annua

  Over the years grades in an introductory statistics course

over the years grades in an introductory statistics course were recorded and showed the following proportionsa 0.20 b

  How to analyse the dataset to check wich values to reject

If I have a set of values(direct measurements of dynamic deformations of a road at 100m) between 3 and~1000, how can I calculate the 2 characteristical values wich limits the interval including 85,95% of all possible measurements on this road? Using ..

  A professor is doing a study of the relationship between

a professor is doing a study of the relationship between students grades and their part-time work. he analyses data

  Question the manufacturer of a steel-belted radial tire

question the manufacturer of a steel-belted radial tire claims that the mean mileage the tire can be driven before the

  Linear optimization model to determine optimal mix

Develop and solve a linear optimization model to determine the optimal mix to maximize profit, and write a short memo to the president, Kathy Chung, explaining the sensitivity information in language that she can understand.

  Test the claim that the sample comes from a population

Standard deviation of 19.5. Use a 0.05 significance level to test the claim that the sample comes from a population with a standard deviation less than 23.4.

  A sample of 230 observations is selected from a normal

a sample of 230 observations is selected from a normal population for which the population standard deviation is known

  Did the change to the process improve the mtbf

The manufacturer then changes a manufacturing process and produces another batch and again measures the MTBF. Did the change to the process improve the MTBF?

  Explain what the slpoe and intersept of the model indiates

type your question here an article in the jornal of statstic education reported the price of diamond of different carat

  Complete the following anova table use alpha 05 to find

suppose you are using a completely randomized design to study some phenomenon. there are three treatment levels and a

  Maximum surface areas of a cube

I need to find the maximum and minimum surface areas for 2 cubes with a total volume of 432 in^3. No other perameters are specified. I've been able to use common sense to find the max is 432 sq/inches

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd