Mathematics, 26.02.2021 07:20, MikeWrice4494
In order to set premiums at profitable levels, insurance companies must estimate how much they will have to pay in claims on cars of each make and model, based on the value of the car and how much damage it sustains in accidents. Let C be a random variable that represents the cost of a randomly selected car of one model to the insurance company. The probability distribution of C is given below.
C
$0
$500
$1000
$2000
P(C)
0.70
0.15
0.11
0.04
1. The expected value of C is =
2. The standard deviation of C is =
Answers: 2
Mathematics, 21.06.2019 19:00, sonyalehardez
Quadrilateral abcd in the figure below represents a scaled-down model of a walkway around a historic site. quadrilateral efgh represents the actual walkway. abcd is similar to efgh. what is the total length, in feet of the actual walkway?
Answers: 2
Mathematics, 21.06.2019 19:40, evarod
Afactory makes propeller drive shafts for ships. a quality assurance engineer at the factory needs to estimate the true mean length of the shafts. she randomly selects four drive shafts made at the factory, measures their lengths, and finds their sample mean to be 1000 mm. the lengths are known to follow a normal distribution whose standard deviation is 2 mm. calculate a 95% confidence interval for the true mean length of the shafts. input your answers for the margin of error, lower bound, and upper bound.
Answers: 3
In order to set premiums at profitable levels, insurance companies must estimate how much they will...
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