Reference no: EM131061543
1. There are 26 students in a Pre-K class.
Each of these students is either four or five years old, and 25 of these students have the letter A somewhere in their first name. Is this a statistical oddity?
2. An actuary models the lifetime of a device using the random variable Y = 10X0.8, where X is an exponential random variable with mean 1 year. Determine the probability density function f(y), for y > 0, of the random variable Y.
3. The owner of an automobile insures it against damage by purchasing an insurance policy with a deductible of 250. In the event that the automobile is damaged, repair costs can be modeled by a uniform random variable on the interval (0, 1500). Determine the standard deviation of the insurance payment in the event that the automobile is damaged.
4. An insurance company insures a large number of drivers. Let X be the random variable representing the company losses under collision insurance, and let Y represent the company looses under liability insurance. X and Y have joint density function
What is the probability that the total loss is at least 1?
5. A company takes out an insurance policy to cover accidents that occur at its manufacturing plant. The probability that one or more accidents will occur during any given month is 3/5. The number of accidents that occur in any given month is independent of the number of accidents that occur in all other months. Calculate the probability that there will be at least four months in which no accidents occur before the fourth month in which at least one accident occurs.
6. Claims filed under auto insurance policies follow a normal distribution with mean 19,400 and standard deviation 5,000. What is the probability that the average of 25 randomly selected claims exceeds 20,000?
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Use of renewable energy
: Why is there a sense of urgency nowadays about the use of renewable energy and what are the effects of this on a Fijian society?
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What is the maximum annual profit that can be obtained
: The value of the product is $14.08 per pound, and the plant operates 300 days per year. Assuming no costs are involved other than those mentioned, what is the maximum annual profit that can be obtained under these conditions?
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What kind of defense has socrates made
: In his Nicomachean Ethics, Aristotle examines eudaimonia or happiness. First, give a detailed account of Aristotle's position on happiness and say why it is a human good. What are the different types of virtue and how do they figure into a flouris..
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Several kinds of characters
: In the stories you have read in Chapters 4 through 7, you have been introduced to several kinds of characters. Select another story from your textbook that is different than the one you analyzed in the "Literary Techniques and Their Connection to ..
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Determine the probability density function
: An actuary models the lifetime of a device using the random variable Y = 10X0.8, where X is an exponential random variable with mean 1 year. Determine the probability density function f(y), for y > 0, of the random variable Y
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Creating and highlighting the theme
: All stories have a theme that forms the plot. Also, literary elements and techniques contribute to creating and highlighting the theme. Reflect on the theme and literary elements and techniques in the story you have chosen to read.
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Explain the nature of the open market operations enacted
: Explain the nature of the Open Market Operations enacted by the Reserve Bank to address the falling interbank rate as described above. Would it be necessary to conduct OMO, if the support and target rates were equal?
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What would be the minimum value of c along the first line
: Using the method outlined for steepest descent in Eqs. (961 to (98) and presented in Fig. 11-12, what would be the minimum value of C along the first line of steepest descent if the initial point had been chosen arbitrarily as x = 2 and y = 3 with..
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What stage do you think your family members are in
: Re-read the theories of racial identity development, as described on pp. 189-194 in Andreatta. In a 2-page paper, discuss your response to the theories outlined. How well (or not) do the models describe you and your own experience of race? How wel..
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