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Suppose a life insurance company sells a 27-year old woman a $10,000 one-year life insurance policy for $300. If the probability that she dies in the coming year is 0.001, what is the expected gain for the insurance company?
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Hi - I need some help! Please attached assignment (pdf) and data (excel) schedules for this assignment. Thanks!
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1. Five motors are available for use, and Motor 2 is defective. Motors 1 and 2 come from Supplier I and Motors 3, 4, and 5 come from Supplier II. Two motors are randomly selected for use on a particular day. Let A denote the event that the defective motor is selected and let B be the event that...
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Did you receive the excel file with data? Here is the pdf with the problem and series of questions.
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Please see attached pdf with problem and questions at end. Thanks
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Please help. Thank you!
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2. The time between surface finish problems in galvanizing process is exponentially distributed with a mean of 40 hours. A single plant operates three galvanizing lines that are assumed to operate independently. a. What is the probability that none of the lines experiences a surface finish...
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The United Nation declared that the world's six-billionth inhabitant was born on October 12, 1999 in Bosnia. Don't discuss what is not said. Discuss what is said
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The lengths of pregnancies are normally distributed with a mean of 273 days and a standard deviation of 30 days. If 144 women are randomly selected, find the probability that they have a mean pregnancy between 273 days and 275 days.
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A company wants to estimate the average sales lunch expense. They want to be within $5 of the true mean when using a confidence interval of 95%. The standard deviation is estimated at $25. How many lunch receipts must they sample?
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