insurance adjustment office. Your office has just received 130 insurance claims to be processed in the next few days. Find the following probabilities. (Round your answers to four decimal places.)   (a) half or more of the claims have been padded (b) fewer than 45 of the claims have been padded (c) from 40 to 64 of the claims have been padded

Suppose that you just bought a painting for $1million. You plan to sell it exactly one year fromnow. You don’t know what the exact price will bewhen you sell. Nevertheless, you believe thatthere’s a 65% chance that you can sell it for$1.2million, and a 35% chance that you can sell itfor only $900,000. What is your expected gain orloss for this investment?

In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities.Do you try to pad an insurance claim to cover your deductible? About 44% of all U.S. adults will try to pad their insurance claims! Suppose that you are the director of an insurance adjustment office. Your office has just received 132 insurance claims to be processed in the next few days. Find the following probabilities. (Round your answers to four decimal places.)

4. Along with interest rates, life expectancy is a component in pricing financial annuities. Suppose that you know that last year average life expectancy was 77 years for your annuity holders. Now you want to know if your clients this year have a longer life expectancy, on average, so you randomly sample n=20 of your recently deceased annuity holders to see actual age at death. Using a 5% level of significance, test whether or not the new data shows evidence of your annuity holders now live longer than 77 years, on average. The data below are the sample data (in years of life): (78,75,83,81,81,77,78,79,79,81,76,79,77,76,79,81,73,74,78,79) a) Does this sample indicate that life expectancy has increased? Test an appropriate hypothesis and state your conclusion (use a 5% level of significance). Be sure to check the necessary assumptions and conditions before conducting your test. b) Construct A 90% confidence interval for the true average age of death for the population of your annuity…

A certain model phone costs $599. The probability of the phone breaking over the course of a year is .07. What is the maximum amount you could pay for phone replacement insurance and still have a non-negative expected value on the policy? In other words, for what price or below would it be worth it to get the insurance?

In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities.Do you try to pad an insurance claim to cover your deductible? About 42% of all U.S. adults will try to pad their insurance claims! Suppose that you are the director of an insurance adjustment office. Your office has just received 140 insurance claims to be processed in the next few days. Find the following probabilities. (Round your answers to four decimal places.)   (a) half or more of the claims have been padded(b) fewer than 45 of the claims have been padded(c) from 40 to 64 of the claims have been padded(d) more than 80 of the claims have not been padded

In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities. Do you try to pad an insurance claim to cover your deductible? About 37% of all U.S. adults will try to pad their insurance claims! Suppose that you are the director of an insurance adjustment office. Your office has just received 126 insurance claims to be processed in the next few days. Find the following probabilities. (Round your answers to four decimal places.) A USE SALT (a) half or more of the claims have been padded (b) fewer than 45 of the claims have been padded (c) from 40 to 64 of the claims have been padded (d) more than 80 of the claims have not been padded

An insurance policy on an electrical device pays a benefit of $2400 if the device fails during the first year. The amount of the benefit decreases by $800 each successive year until it reaches 0 . If the device has not failed by the beginning of any given year, the probability of failure during that year is 0.29.Find the expected benefit under this policy.

In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities.Do you try to pad an insurance claim to cover your deductible? About 35% of all U.S. adults will try to pad their insurance claims! Suppose that you are the director of an insurance adjustment office. Your office has just received 122 insurance claims to be processed in the next few days. Find the following probabilities. (Round your answers to four decimal places.)  (b) fewer than 45 of the claims have been padded (c) from 40 to 64 of the claims have been padded (d) more than 80 of the claims have not been padded   In the following problem, check that it is appropriate to use the normal approximation to the binomial. Then use the normal distribution to estimate the requested probabilities.It is known that 76% of all new products introduced in grocery stores fail (are taken off the market) within 2 years. If a…