ward Doering Auto Sales is considering offering a special service contract that will coverthe total cost of any service work required on leased vehicles. From experience, the company manager estimates that yearly service costs are approximately normally distributed,with a mean of $150 and a standard deviation of $25.a. If the company offers the service contract to customers for a yearly charge of $200, whatis the probability that any one customer’s service costs will exceed the contract price of$200?b. what is ward’s expected profit per service contract?

Solve the attached problem

An insurance company wants to make sure that its best customers (those with lowest value of insurance claims) stay with the company. To achieve this goal, the company plans to offer a 10% discount on the annual health insurance premium for customers with the lowest 20% of annual health care expenses. If the average annual health care expenses for a family of four is $3,650 with a standard deviation of $975, what is the amount of the maximum annual health care expense that will qualify for the proposed discount?

If a payoff is equally likely to be $1, $2, $3, $4, or $5, the square of the standard deviation is: O 0. Ⓒ 2. O 4. O 10. O 100.

e) Suppose that weekly household expenditures on petrol are normally distributed, with a mean of $120 and a standard deviation of $50. i. A family is randomly selected. Find the probability that this family spends more than $245 per week on petrol? A 2.5 B 0.0062 C 0.9938 D 0.0202 ii. The government wants to promote public transport and will award a prize to the families who spend the lowest amount on petrol. If the government only wants to give a prize to 10% of households, what is the most that a family is allowed to spend on petrol each week to obtain the prize? A $56 B $184 C $3.50 D $217.60 In a sample of 25 families, what is the probability that the average weekly expenditure on petrol will be less than $105? ii. A 0.0668 B 0.9332 C 0.3821 D 0.6179

1) The mean and standard deviation of a population are 200 and 20, respectively.The probability of selecting one data value less than 190 is ____ %. (Round answer to the nearest percent (whole number). Do not write the % sign.) 2) A. C. Neilsen reported that children between the ages of 2 and 5 watch an average of 25 hours of television per week. Assume the variable is normally distributed and the standard deviation is 3 hours.If 20 children between the ages of 2 and 5 are randomly selected, the number of children in the sample who watch at least 25.2 hours of television is? Give answer to the nearest whole number, not a percent. 3)  A. C. Neilsen reported that children between the ages of 2 and 5 watch an average of 25 hours of television per week. Assume the variable is normally distributed and the standard deviation is 3 hours.If 20 children between the ages of 2 and 5 are randomly selected, the number of children in the sample who watch at most 22.5 hours of television is? .  Give…

Dan is doing research on organic farming for an agricultural foundation. He has collected data on the number of oranges harvested from individual trees in two different orchards. In each orchard, the number of oranges harvested from each of 57 trees was recorded. The histograms below show the distributions of the two data sets. The means and standard deviations for the data sets are also given. Orchard 1 Orchard 2 25 25 20- 20- 15+ 15- 10+ 10+ 5+ 5+ 199.5 219.5 239.5 259.5 279.5 299.5 319.5 339.5 359.5 199.5 219.5 239.5 259.5 279.5 299.5 319.5 339.5 359.5 Orchard 1 mean: 275.1 oranges Orchard 2 mean: 274.9 oranges Orchard 1 standard deviation: 23.2 oranges Orchard 2 standard deviation: 47.9 oranges Dan 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 Dan with his approximations. (a) Identify the data set for which it is appropriate to use the…

C. Atlantic Video is planning to add the new Marvel movie to their collection, and they predict that this will double their demand (i.e. new arrival rate is 60 customers every hour) and halve the standard deviation of the inter-arrival times. However, they want to keep the average waiting time of customers in line the same as before. Assume that the coefficient of variation for the check-out times does not change. Please answer the following questions.     1) Does the employee need to work twice as fast? If not, calculate the new service rate. 2) What is the average number of customers in the store?