MT220- An insurance company has 10000 automobile policy holders Statistical Methods & interference assignment help

Code –MT220Assignment Help

Subject – Statistical Methods & interface Assignment Help

Assignment Details

Question 1

An insurance company has 10000 automobile policyholders. If the expected yearly claim per policyholder is $260 with a standard deviation of $800, what is the expected total yearly claim of all 10000 policyholders?

Group of answer choices

  1. 260
  2. 26000
  3. 8000000
  4. 2600000

Question 2

An insurance company has 10000 automobile policyholders. If the expected yearly claim per policyholder is $260 with a standard deviation of $800, what is the standard deviation of the total yearly claim of all 10000 policyholders?

Group of answer choices

  1. 260
  2. 800
  3. 80000
  4. 8000

Question 3

An insurance company has 10000 automobile policyholders. If the expected yearly claim per policyholder is $260 with a standard deviation of $800, calculate the probability that the total yearly claim exceeds $2.8 million (= 2.8 x 106)

Group of answer choices

  1. 006
  2. 002
  3. 009
  4. 013

Question 4

Given that the mean contents of bags of salt labeled as containing 1 kg is 1003 g and that the standard deviation of their contents is 2 g. Suppose a random sample of 5 bags is taken. What is the expected value of the total contents of a sample of 5 bags?

Group of answer choices

  1. 4995
  2. 5015
  3. 4550
  4. 4725

Question 5

Given that the mean contents of bags of salt labeled as containing 1 kg is 1003 g and that the standard deviation of their contents is 2 g. Suppose a random sample of 5 bags is taken. What is the standard deviation of the total contents of a sample of 5 bags?

Group of answer choices

  1. 472
  2. 122
  3. 595
  4. 982

Question 6

Given that the mean contents of bags of salt labeled as containing 1 kg is 1003 g and that the standard deviation of their contents is 2 g. Suppose a random sample of 5 bags is taken. What is the expected value of the mean contents of a sample of 5 bags?

Group of answer choices

  1. 1003
  2. None of the above
  3. 2006
  4. 5015

Question 7

Given that the mean contents of bags of salt labeled as containing 1 kg is 1003 g and that the standard deviation of their contents is 2 g. Suppose a random sample of 5 bags is taken. What is the variance of the mean contents of a sample of 5 bags?

Group of answer choices

  1. 8
  2. 6
  3. 7
  4. 9

Question 8

Given that the mean contents of bags of salt labeled as containing 1 kg is 1003 g and that the standard deviation of their contents is 2 g. Suppose, a random sample of 5 bags is taken. Assuming that the contents of the bags of salts are normally distributed, What is the probability that the mean contents of a sample of 5 bags will be less than 1 kg?

Group of answer choices

  1. 0009
  2. 0002
  3. 0007
  4. 0004

Question 9

The mean height of all the elderly women in a city is 160 cm and the variance of their heights is 36 cm2. If a sample of 50 elderly women is taken, what is the probability that their mean height will be within 1 cm of the mean height of the population of elderly women in the city?

Group of answer choices

  1. 91
  2. 54
  3. 48
  4. 76

Question 10

The mean height of all the elderly women in a city is 160 cm and the variance of their heights is 36 cm2. If a sample of 60 elderly women is taken, what is the probability that their mean height will be less than 158 cm?

Group of answer choices

  1. 016
  2. 023
  3. 005
  4. 009

 

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