MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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GLL insurance company often tracks life expectancy information to determine life insurance
policies for its policyholders. Two years ago, the average life expectancy of all policyholders
was 79.6 years with a standard deviation of 3.56 years. At this time, GLL wants to estimate the
average life expectancy to within one year with 99% confidence. How many randomly selected
recently paid policies would be needed to sample?
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Transcribed Image Text:GLL insurance company often tracks life expectancy information to determine life insurance policies for its policyholders. Two years ago, the average life expectancy of all policyholders was 79.6 years with a standard deviation of 3.56 years. At this time, GLL wants to estimate the average life expectancy to within one year with 99% confidence. How many randomly selected recently paid policies would be needed to sample?
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