Friday

January 30, 2015

January 30, 2015

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?

**Answer this Question**

**Related Questions**

math - An actuary at an insurance company estimates from exsiting data that on a...

statistical reasioning - An actuary at an insurance company estimates from ...

stats - IHI insurance is interested in determining whether younger drivers (...

Stats - a) IHI insurance is interested in determining whether younger drivers (...

Statistics Help Please - How do I tell if this is a mean or a proportion 1. ...

statistics - A job in an insurance office involves telephone conversations with ...

statistics - any state auto insurance company took a random sample of 370 ...

statistics - Based on data from a statistical abstract, only about 12% of senior...

college math - biostatistics - hey... first time user and really lost. wondering...

statistics - The average age of statistics students nationwide is 22. The ...