Mathematics, 01.12.2020 14:10, micahsocool23
An automobile insurer has found that repair claims are normally distributed with a mean of $780 and a standard deviation of $730.
(a) Find the probability that a single claim, chosen at random, will be less than $730.
(b) Now suppose that the next 80 claims can be regarded as a random sample from the long-run claims process. Find the probability that the average x¯ of the 80 claims is smaller than $730.
(c) If a sample larger than 80 claims is considered, there would be chance of getting a sample with an average smaller then $730. (NOTE: Enter ''LESS'', ''MORE'' or ''AN EQUAL'' without the quotes.)
Answers: 1
Other questions on the subject: Mathematics
Mathematics, 20.06.2019 18:02, angie249
Larry bar opened a frame shop and completed these transactions: larry started the shop by investing $41,100 cash and equipment valued at $19,100 in exchange for common stock. purchased $180 of office supplies on credit. paid $2,300 cash for the receptionist's salary. sold a custom frame service and collected $5,600 cash on the sale. completed framing services and billed the client $310. what was the balance of the cash account after these transactions were posted?
Answers: 2
Do you know the correct answer?
An automobile insurer has found that repair claims are normally distributed with a mean of $780 and...
Questions in other subjects:
Mathematics, 13.04.2020 22:34
History, 13.04.2020 22:34
Mathematics, 13.04.2020 22:34
Business, 13.04.2020 22:34
Mathematics, 13.04.2020 22:34
