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An actuarial firm is conducting an analysis to model health insurance costs for two companies. One of the many factors they are using in the model is the ages of employees of the two companies. The firm has collected data on the ages (in years) of 70 employees of each company. The histograms below show the distributions of the two data sets. Each histogram shows age (in years) on the horizontal axis and the number of employees on the vertical axis. The means and standard deviations for the data sets are also given. Company A 25 20- 15+ 10+ 54 0 → 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company A mean: 44.21 years Company A standard deviation: 8.19 years 20- 154 10 5- 0H Company B Th 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company B mean: 34.07 years Company B standard deviation: 11.66 years The firm wants to use the Empirical Rule to make some approximations about both data sets. Unfortunately, it is appropriate to use the Empirical Rule on only one of them! Answer the parts below to help the actuarial firm with their approximations. (a) Identify the data set for which it is appropriate to use the Empirical Rule. It is appropriate to use the Empirical Rule for the Company B For the data set identified in part (a), use the Empirical Rule to make the following approximations. (b) The percentage of ages between 27.83 years and 60.59 years is approximately 75% (c) Approximately 99.7% of the ages are between years and years. ▼ data set. X Save For Later Submit Assignment Espa ? OF EZEN 80 B

An actuarial firm is conducting an analysis to model health insurance costs for two companies. One of the many factors they are using in the model is the ages of employees of the two companies. The firm has collected data on the ages (in years) of 70 employees of each company. The histograms below show the distributions of the two data sets. Each histogram shows age (in years) on the horizontal axis and the number of employees on the vertical axis. The means and standard deviations for the data sets are also given. Company A 25 20- 15+ 10+ 54 0 → 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company A mean: 44.21 years Company A standard deviation: 8.19 years 20- 154 10 5- 0H Company B Th 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company B mean: 34.07 years Company B standard deviation: 11.66 years The firm wants to use the Empirical Rule to make some approximations about both data sets. Unfortunately, it is appropriate to use the Empirical Rule on only one of them! Answer the parts below to help the actuarial firm with their approximations. (a) Identify the data set for which it is appropriate to use the Empirical Rule. It is appropriate to use the Empirical Rule for the Company B For the data set identified in part (a), use the Empirical Rule to make the following approximations. (b) The percentage of ages between 27.83 years and 60.59 years is approximately 75% (c) Approximately 99.7% of the ages are between years and years. ▼ data set. X Save For Later Submit Assignment Espa ? OF EZEN 80 B

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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An actuarial firm is conducting an analysis to model health insurance costs for two companies. One of the many factors they are using in the model is the ages of employees of the two companies. The firm has collected data on the ages (in years) of 70 employees of each company. The histograms below show the distributions of the two data sets. Each histogram shows age (in years) on the horizontal axis and the number of employees on the vertical axis. The means and standard deviations for the data sets are also given. Company A 25 20. 15- 10- 01 - 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company A mean: 44.21 years Company A standard deviation: 8.19 years 25 Check 20- 10 ←+ 0 Company B 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company B mean: 34.07 years Company B standard deviation: 11.66 years The firm wants to use the Empirical Rule to make some approximations about both data sets. Unfortunately, it is appropriate to use the Empirical Rule on only one of them! Answer the parts below to help the actuarial firm with their approximations. (a) Identify the data set for which it is appropriate to use the Empirical Rule. It is appropriate to use the Empirical Rule for the Company B For the data set identified in part (a), use the Empirical Rule to make the following approximations. (b) The percentage of ages between 27.83 years and 60.59 years is approximately 75% (c) Approximately 99.7% of the ages are between years and years. data set. X S Save For Later Submit Assignment Canter Accessibility Español ? 0 8民
Transcribed Image Text:An actuarial firm is conducting an analysis to model health insurance costs for two companies. One of the many factors they are using in the model is the ages of employees of the two companies. The firm has collected data on the ages (in years) of 70 employees of each company. The histograms below show the distributions of the two data sets. Each histogram shows age (in years) on the horizontal axis and the number of employees on the vertical axis. The means and standard deviations for the data sets are also given. Company A 25 20. 15- 10- 01 - 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company A mean: 44.21 years Company A standard deviation: 8.19 years 25 Check 20- 10 ←+ 0 Company B 19.5 24.5 29.5 34.5 39.5 44.5 49.5 54.5 59.5 64.5 69.5 Company B mean: 34.07 years Company B standard deviation: 11.66 years The firm wants to use the Empirical Rule to make some approximations about both data sets. Unfortunately, it is appropriate to use the Empirical Rule on only one of them! Answer the parts below to help the actuarial firm with their approximations. (a) Identify the data set for which it is appropriate to use the Empirical Rule. It is appropriate to use the Empirical Rule for the Company B For the data set identified in part (a), use the Empirical Rule to make the following approximations. (b) The percentage of ages between 27.83 years and 60.59 years is approximately 75% (c) Approximately 99.7% of the ages are between years and years. data set. X S Save For Later Submit Assignment Canter Accessibility Español ? 0 8民
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