An automobile insurer has found that repair claims are Normally distributed with a mean of $510 and a standard deviation of $460. (a) Find the probability that a single claim, chosen at random, will be less than $480. ANSWER:        (b) Now suppose that the next 50 claims can be regarded as a random sample from the long-run claims process. Find the probability that the average x¯of the 50 claims is smaller than $480.

A large corporation employs 19185 individuals. The average income of all employees is $70616, with a standard deviation of $19414 and is skewed to the right. Consider this to be the population distribution. You are given a data set consisting of the incomes of 120 randomly selected employees.

Cody took his first physics exam and scored an 80. The population mean for this exam is 70, and the standard deviation is 5. What is the probability of selecting a person with a score greater than Cody’s?

Business weekly conducted a survey of graduates for 30 top MBA programs.  On the basis of the survey assume the means annual salary 10 years after graduation is $162,000.  Assume the standard deviation is $40,000.  Suppose you take a simply random sample of 39 graduates.  For a single randomly selected graduate, find the probability that her salary is between $156,692.00 and $161,395.00.   For a simple random sample of 39 graduates, find the probability that the average salary is between $156,692.00 and $161,395.00.  Is the assumption of normal necessary?  Yes, or No.

The board of examiners that administers the real estate broker's examination in a certain state found that the mean score on the test was 494 and the standard deviation was 72. If the board wants to set the passing score so that only the best 10% of all applicants pass, what is the passing score? Assume that the scores are normally distributed. Round to the nearest whole number.

The average student loan debt for college graduates is $25,650. Suppose that that distribution is normal and that the standard deviation is $14,350. Let X = the student loan debt of a randomly selected college graduate. Round all probabilities to 4 decimal places and all dollar answers to the nearest dollar.b   Find the probability that the college graduate has between $28,800 and $41,400 in student loan debt. c.  The middle 20% of college graduates' loan debt lies between what two numbers?     Low: $     High: $

The median annual cost of auto insurance is $ 939 (According to DACO). Suppose the standard deviation is o = $ 241. What is the probability that in a simple random sample of auto insurance policies the sample mean differs more than $ 70.42 from the population mean if the sample size is 45? You must calculate the probability that the difference between the average cost in the sample and the average annual cost do not differ by $ 70.42. Find the probability that P (\ µ - š | 0) = P (-70.42 H-iS 70.42) Select one: a. The probability is 99% that the auto policy will not differ by $ 70.42 from the average annual cost. b. The probability is 50% that the auto policy will not differ by $ 70.42 from the average annual cost. c. The probability is 80% that the auto policy will not differ by $ 70.42 from the average annual cost. d. The probability is 70% that the auto policy will not differ by $ 70.42 from the average annual cost. e. The probability is 95% that the auto policy will not differ by $…

Suppose (rounded to the nearest thousand) that the mean cost of a house is $152,000 with a standard deviation of $44,000 in Pittsburgh and that house prices are normally distributed. Between what two prices do the middle 95% of houses fall in Pittsburgh?  Find the probability that a house costs less than $100,000.  If you are in the market for one of the most expensive 10% of houses, what price range are you exploring?