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X=age(years) 60 61 62 63 64
p(death at this age 0.00756 0.00825 0.00896 0.00965 0.01035
a) What is the probability that sara will die in her 60th year? using this probability and the $50,000 death benefits, what is the expected loss?
b) Repeat part(a) for years 61,62,63, and 64. What would be the total expected loss over the years 60 through 64?
c) If the insurance wants to make a profit of $700 above the expected total loss paid out for Sara death, how much should it charge for the policy?
d) If the insurance company charges $5,000how much profit does the company expect to make?
The number of widgets produced by 9 employees in an eight hour shift is recorded as: 135, 120, 116, 119, 121, 125, 135, 131, 123. What is the median of the number of widgets produced presented above?
There are 25 students in a probability class. Assume that there are 365 days in each year, and that the birthrate is constant throughout the year.
Considering that the probability of event C is .44, of event D is .20, and the probability of their intersection is .088, determine whether C and D are dependent or independent events.
a) What is the probability that for any day, the number of special orders sent out will be more than 4? b) What is the standard deviation of the number of special orders sent out daily?
a) What is the probability of getting four hits in a particular game? (Round your answer to 3 decimal places.) b)What is the probability of not getting any hits in a game?
The American Automobile Association checks the prices of gasoline before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the May 2003 Memorial Day weekend in the Detroit
The standard screening test for Down's syndrome is based on a combination of maternal age and the level of serum alpha fetoprotein. Using the test 80% of Down's syndrome cases can be identified while 5% of normals are detected as positives.
What is a quantitative interpretation of the slope here? (Use appropriate units in your explanation.) Although some might be concerned about the intercept being negative (you can't, after all, have a negative power use), that is not a problem. Expl..
Suppose that you wish to test the effect of lowering the soil ph on the number of lady ferns in an area. The researchers hypothesize that lowering the ph-level of the soil will lead to more ferns.
The owner was interested in the mean time required to service this model, and decided not to carry the model if the mean repair time appeared to be more than 40 minutes.
In a poll to estimate presidential popularity, each person in a random sample of 1000 voters was asked to agree with one of the following statements:
Construct a 95% confidence interval estimate for the population proportion of adults who report that e-mails are easy to misinterpret.
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