Wednesday

April 16, 2014

April 16, 2014

Posted by **kim** on Saturday, March 26, 2011 at 11:50pm.

a)how many of the policyholders would you expect to have filed a claim within the last year?

b)what is the probability that 10 of the selected policyholders submitted a claim last year?

c)what is the probability that 10 or more of the selected policyholders filed a claim last year?

d)what is the probability that more than 10 of the selected policyholders filed a claim last year?

- statistics -
**MathGuru**, Thursday, March 31, 2011 at 12:46pmFind mean and standard deviation. Use z-scores to find z, then a z-table to find your probability based on the z-score. This is a normal approximation to the binomial distribution.

I'll get you started:

mean or expected value = np = (15)(.40) = ?

standard deviation = √npq = √(15)(.40)(.60) = ?

Note: q = 1 - p

Finish the calculations.

To find z-score:

z = (x - mean)/sd

Note: x = 10

Once you have the z-score, look in a z-table using the score to find your probability. Remember that the question is asking different questions when looking at the table.

- statistics -
**Ace**, Friday, April 1, 2011 at 11:35pmQuestion , what does the letter q represent?

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