Mathematics, 05.05.2020 07:19, jeto32
In a large Insurance Company in U. S., people over age thirty five have an annual income that follows a normal distribution with mean 70,000 and standard deviation 9,000. The incomes of those under age thirty five are also approximately normal, but with mean 45,000 and standard deviation 8,000. With the above information simulate 10000 employees over 35 and 10000 employees under 35 and answer the questions.
1) What is the approximate probability that a randomly picked, employee over 35 will have an income lower than or equal to 60,000? Pick the closest answer.
a) About 15%
b) About 25%
c) About 35%
d) About 55%
2) What would be a range [A to B] for the income, which would contain 95% of the employee under 35? Pick the closest answer.
a) Between 35,000 and 65,000
b) Between 29,000 and 61,000
c) Between 52,000 and 88,000
d) Between 35,000 and 60,000
Answers: 3
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In a large Insurance Company in U. S., people over age thirty five have an annual income that follow...