MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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- Samuel F.B. Morse (1791 – 1872), the creator of Morse Code, claimed that 12% of all letters used in the English language were “e”s. Suppose random samples of 196 letters are selected from a book What is the probability that a random sample of 196 letters will contain at least 10% "e"s? Type your calculated z-score here. Express its value to the nearest hundredth (two decimal places). Type your probability here. Express its value to four decimal places. Do not round.arrow_forwardJim is a 60-year-old male in reasonably good health. He wants to take out a $50,000 term (that is, straight death benefit) life insurance policy until he is 65. The policy will expire on his 65th birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th edition) X=age 60 61 62 63 64 P(death at this age) 0.01191 0.01292 0.01396 0.01503 0.011613 Jim is applying to Big Rock Insurance Company for his term insurance policy. What is the probability that Jim will die in his 60th year? Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance? Repeat part (a) for years 61, 62, 63, and 64. What would be the total expected cost to Big Rock Insurance over the years 60 through 64? If Big Rock Insurance wants to make a profit of $700 above the expected total cost paid out for Jim’s death, how much should it charge for the policy?…arrow_forwardThe annual rainfall (in inches) in a certain region is normally distributed with mean = 40 and o=4. What is the probability that starting with this year, it will take more than 10 years before a year occurs having a rainfall of more than 50 inches? What assumption are you making?arrow_forward
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