Provide an appropriate response.Assume that male and female…
Provide an appropriate response.Assume that male and female births are equally likely and that the birth of any child does not affect the probability of the gender of any other children. Suppose that 800 couples each have a baby; find (a) the mean: [mean] (b) standard deviation for the number of boys in the 800 babies: [stdev] (c) Would it be unusual to have 800 couples give birth and 470 are baby boys? Min Usual: [minusual] Max Usual: [maxusual] Unusual (Y/N): [unusual]
Read DetailsProvide an appropriate response.According to insurance recor…
Provide an appropriate response.According to insurance records, a car with a certain protection system will be recovered 87% of the time. If 1000 stolen cars are randomly selected, what is the mean and standard deviation of the number of cars recovered after being stolen?
Read DetailsCompute the linear correlation coefficient between the two v…
Compute the linear correlation coefficient between the two variables and determine whether a linear relation exists.The table shows the number of days off last year and the earnings for the year (in thousands of dollars) for nine randomly selected insurance salesmen. Number of Days Off vs Yearly Earnings Number of Days off, x 3 6 9 7 12 5 18 11 8 Yearly Earnings (thousands), y 91 79 73 75 64 85 48 69 75
Read DetailsProvide an appropriate response.An insurance actuary asked a…
Provide an appropriate response.An insurance actuary asked a sample of senior citizens the cause of their automobile accidents over a two-year period. The random variable x represents the number of accidents caused by their failure to yield the right of way. a) Use the frequency distribution to construct a probability distribution. Accidents Senior Citizens Relative Frequency 0 5 [relfreq0] 1 3 [relfreq1] 2 9 [relfreq2] 3 4 [relfreq3] 4 3 [relfreq4] 5 1 [relfreq5] b) Is it unusual for a senior citizen to have 5 accidents when failing to yield the right of way (Y/N)? [unusual]
Read DetailsProvide an appropriate response.An insurance actuary asked a…
Provide an appropriate response.An insurance actuary asked a sample of senior citizens the cause of their automobile accidents over a two-year period. The random variable x represents the number of accidents caused by their failure to yield the right of way. a) Use the frequency distribution to construct a probability distribution. Accidents Senior Citizens Relative Frequency 0 4 [relfreq0] 1 4 [relfreq1] 2 11 [relfreq2] 3 2 [relfreq3] 4 3 [relfreq4] 5 1 [relfreq5] b) Is it unusual for a senior citizen to have 3 accidents when failing to yield the right of way (Y/N)? [unusual]
Read DetailsProvide an appropriate response.A motel has a policy of book…
Provide an appropriate response.A motel has a policy of booking as many as 150 guests in a building that holds 140. Past studies indicate that only 85% of booked guests show up for their room. Find the probability that if the motel books 150 guests, not enough rooms will be available.
Read DetailsProvide an appropriate response.A lab orders a shipment of 1…
Provide an appropriate response.A lab orders a shipment of 100 rats a week, 52 weeks a year, from a rat supplier for experiments that the lab conducts. Prices for each weekly shipment of rats follow the distribution below: Prices for Shipments of Lab Rats Price $10.00 $12.50 $15.00 Probability 0.30 0.15 0.55 How much should the lab budget for next year’s rat orders assuming this distribution does not change. (Hint: find the expected price.)
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