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Unformatted text preview: deviation of 20 lbs. Would you board this elevator or wait for the next one? 3. Insurance company has 10,000 automobile policyholders. The expected yearly claim per policyholder is $240 with a standard deviation of $800. Approximate the probability that the total early claim exceeds $2.7 million. 4. A certain component is critical to the operation of an electrical system and must be replaced immediately upon failure. If the mean lifetime of this type of component is 100 hours and its standard deviation is 30 hours, how many of these components must be in stock so that the probability that the system is in continual operation for the next 2,000 hours is at least .95...
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This note was uploaded on 04/08/2012 for the course COMP 211 taught by Professor Dr.kwok during the Spring '12 term at Hong Kong Polytechnic University.
 Spring '12
 Dr.Kwok

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