Cnnbc Recently Reported That The Mean Annual Cost Of Auto Insurance Is 967 Dollars Assume The Standard Deviation Is 252 1 (196.45 KiB) Viewed 24 times
Cnnbc Recently Reported That The Mean Annual Cost Of Auto Insurance Is 967 Dollars Assume The Standard Deviation Is 252 2 (111.92 KiB) Viewed 24 times
CNNBC recently reported that the mean annual cost of auto insurance is 967 dollars. Assume the standard deviation is 252 dollars, and the cost is normally distributed. You take a simple random sample of 37 auto insurance policies. Round your answers to 4 decimal places. a. What is the distribution of X? X-NO b. What is the distribution of x? ~ N( c. What is the probability that one randomly selected auto insurance is less than $953? d. a simple random sample of 37 auto insurance policies, find the probability that the average cost is less than $953. e. For part d), is the assumption of normal necessary? O Yes No
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $176,000. Assume the standard deviation is $30,000. Suppose you take a simple random sample of 9 graduates. Round all answers to four decimal places if necessary. a. What is the distribution of X? X ~ N( b. What is the distribution of ? N c. For a single randomly selected graduate, find the probability that her salary is between $161,200 and $167,400. d. For a simple random sample of 9 graduates, find the probability that the average salary is between $161,200 and $167,400. e. For part d), is the assumption of normal necessary? O No Yes
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