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A company provides its three employees with health insurance under a group plan. For each employee, the probability of incurring medical expenses during a year is 0.9, so the number of employees incurring medical expenses during a year has a binomial distribution with p = 0.9 and n = 3. Given that an employee incurs medical expenses during a year, the total amount for the year has the distribution $100 with probability 0.9 or $10,000 with probability 0.1. The company has a $5,000 deductible clause with the insurance company so that each year the insurance company pays the total medical expenses for the group in excess of $5,000. Use the uniform random numbers 0.01 and 0.20, in the order given, to generate the number of claims based on a binomial distribution for each of 2 years. Use the following uniform random numbers, in the order given, to generate the amount of each claim: 0.80, 0.95, 0.70, 0.96, 0.54, 0.01. Calculate the total amount that the insurance company pays for 2 years.
We want 95% confidence that the sample mean is within $5 of the population mean, and the population standard deviation is known to be $63.
She surveys 100 randomly selected families and finds the mean income to be $96,321 with a standard deviation of $9555.With a0.05, is she correct?
Bill is doing a project for you in the marketing department. In conducting his analysis regarding consumer behavior and a new product that has come out
according to a study by the american pet food dealers association 63 percent of u.s. households own pets. a report is
Obtain a 95% prediction interval for x = 92 and interpret its meaning.
A population is Normally distributed and has a σ = 24. Samples of size 25 have a sample mean of 100. Find the 90% confidence interval for the population mean.
suppose that pmale birth 0.5. a couple wishes to have exactly 2 female children in their family. they will have
A Cornell university study of wage differentials between men and women reported that one of the reasons wages for men are higher than wages for women is that men tend to more years of work experience than women. Suppose the following results were ..
Let F be any NFA that contains λ transitions. Write an algorithm that transforms F into an equivalent NFA F' that contains no λ transitions. Note: You need not use the subset construction, since you're creating a
Is the chi-square distribution is a skewed distribution whose mean value is n for degrees of freedom larger than two?
A fast food chain sells its burgers alone or as part of a "value meal" which includes fries and a drink. They know some customers are health conscious.
the average size of a home in 2003 was 2313 square feet according to the national association of home builders and
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