...EC315 Quantitative Research Methods Dustin Carter Week 2 Homework Chapter 6 Questions 36 Find the mean and standard deviation of the payout I am sorry, but I am not sure how to do this problem taking into account the ticket cost and probability. Question 39 A. How many Policyholders would you expect to have filed a claim within the last year? 15 * .4 = 6 Policy holders B. What is the probability that 10 of the selected policyholders submitted a claim last year? P(x = 10) = 15C10 * .4 ^ 10 * .6 ^ 5 = 0.0245 C. What is the probability that 10 or more of the selected policyholders submitted a claim last year? P(10 <= x <= 15) = 1 - binomcdf(15,0.4,9) = 0.0338 D. What is the probability that more than 10 of the selected policyholders submitted a claim last year? P(11 <= x <= 15) = 1 - binomcdf(15,0.4,10) = 0.0093 Chapter 7 Question 32 A. How much toothpaste would you expect to be remaining in the tube? I would expect one half of the toothpaste to be there or 2.1 ounces B. What is the standard deviation of the amount remaining in the tube? Where B = 4.2 and A = 0 1.21 Ounces C. What is the likelihood there is less than 3.0 ounces remaining in the tube? 3.0 / 4.2 * 100% = .714 = 71.4% D. What is the probability there is more than 1.5 ounces remaining in the tube? (4.2 - 1.5) / 4.2 * 100% = .643 = 64.3% Question 37 A. What percent of the families spend more...
Words: 384 - Pages: 2