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In a typical month, an insurance agent presents life insurance plans to 40 potential customers. Historically, one in four such customers chooses to buy life insurance from this agent. Based on the relevant binomial distribution, answer the following questions about X, the number of customers who will buy life insurance from this agent in the coming month:
a. What is the probability X is exactly 5?
b. What is the probability that X is no more than 10?
c. What is the probability that X is at least 20?
d. Determine the mean and standard deviation of X.
e. What is the probability that X will be within two standard deviations of the mean?
f. What is the probability that X will be within three standard deviations of the mean?
Scenario Four: The Main Street branch of the bank is much larger than the Elm Street location and services more customers on a daily base. Additionally it has upgraded it computer services and facilities making it quicker to service customers at its ..
What say? Does the application temperature make a difference (...test at the α= .05 level)? Then, is porcelain hardness that results from pressure setting #4 different from the others (...build the Scheffé shading contrast between setting #4 and ..
You are the sales manager of a life insurance agency. All of your sales representatives are successful in selling a policy on 30% of their sales calls. Determine the probability of a sales representative's selling at least four policies if he (she..
proper diameter of a rod is between 24 and 26mm control limits production process has a mean diameter of 25mm and a
The share of the national car manufcturers market in South Africa is shown in the table below:
The Web page is accessible at: http://libguides.lib.fit.edu/InformationTechnology. (http://lib.fit.edu) has links to journals and databases. Go to the library home page and click on the "A to Z" journal list (on the left). Select a database or jour..
question according to reuters a survey undertaken by the national center for health statistics revealed that about 25
How would your colleagues probably react to such a statement of yours? Is their expected (positive or negative) reaction the local cultural habit in your company or is it a wider position common for people in your country?
The marketing communications mix consists of several communication tools. Using a product or service to illustrate your point, list and explain briefly any six communicating tools that you would utilize for this product. Should be written in an es..
If a set of paired data gives the indication that the regression equation is of the form μY|x = α · βx, it is customary to estimate α and β by fitting the line
in a recent survey 344 ceos of medium and large companies were asked whether they had mba degrees. in the sample 97 had
Although the packet claims a germination rate of 92%, only 171 or 200 test seeds sprout. Is this evidence that the seeds have lost viability during a year in storage?
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