CNBC recently reported that the mean annual cost of auto insurance is 1013 dollars. Assume the standard deviation is 284 dollars. You take a simple random sample of 56 auto insurance policies. Find the probability that a single randomly selected value is less than 995 dollars. P(X < 995)

Answers

Answer 1

Answer:

P(X < 995) = 0.4761

Step-by-step explanation:

Normal Probability Distribution

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

CNBC recently reported that the mean annual cost of auto insurance is 1013 dollars. Assume the standard deviation is 284 dollars.

This means that [tex]\mu = 1013, \sigma = 284[/tex]

Find the probability that a single randomly selected value is less than 995 dollars.

This is the p-value of Z when X = 995. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{995 - 1013}{284}[/tex]

[tex]Z = -0.06[/tex]

[tex]Z = -0.06[/tex] has a p-value of 0.4761. So

P(X < 995) = 0.4761


Related Questions

What conclusion can be determined from the dot plot below?

A dot plot showing five dots above 9, six dots above 10, three dots above 11, and one dot above 12.

The number of observations is 10.
The median of the data set is 10.
The mean of the data set is 15.
The range of the data set is 12.

Answers

The median of the data set is 10. ;)

I need help answering this question.

Answers

Answer:

6x

Step-by-step explanation:

If x is the length of one side, and each side is the same length, you will multiply it by 6 times (there are 6 sides in a hexagon).

So, you will add it up 6 times, but you can say 6x for short.

What are the coordinates of the point shown on the coordinate plane?​

Answers

Answer:

(5,4)

Step-by-step explanation:

The coordinates of a point are the x and y-values of a point. It is organized like (x,y). The x-value is written first and then the y-value. The x-value is the "run" or the horizontal value; so, the value of the axis on the bottom. The y-value is the "rise" or the vertical value. The axes are also labeled. For this graph, the x-value is 5 and the y-value is 4. The final answer is (5,4).

I’ll mark u plz help

Answers

Answer:

D is the answer

Step-by-step explanation:

all sides and angles are equal

hope it helps!! let me know if it does

The total cost (in dollars) of printing x dictionaries is C(x) = 20,000 + 10x. Find the average value of the cost function over the interval [0, 700).

Answers

Answer:

The average value of the cost function over the interval  is of $23,500.

Step-by-step explanation:

Average value of a function:

The average value of a function, over an inteval [a,b], is given by:

[tex]A = \frac{1}{b-a} \int_{a}^{b} f(x) dx[/tex]

In this case:

Function [tex]C(x) = 20000 - 10x[/tex], interval with [tex]a = 0,b = 700[/tex]

So

[tex]A = \frac{1}{700} \int_{0}^{700} 20000+10x dx[/tex]

[tex]A = \frac{1}{700} (20000x+5x^2)|_{0}^{700}[/tex]

So

[tex]A = \frac{20000(700)+5(700)^2}{700} = 23500[/tex]

The average value of the cost function over the interval  is of $23,500.

In 1980, the average cost of a pack of cigarettes was $0.88. In 2000, the average cost was $5.31 per pack.

What is the average rate of change of the cost of a pack of cigarettes? What is another name for the average rate of change?

Round your answer to the nearest cent.

Answers

Answer:

The average rate of change of the cost of a pack is 22 cents per year.

Another name for the average rate of change is slope.

Step-by-step explanation:

The average rate of change of the cost of a pack ([tex]r[/tex]), in monetary units per year, is equal to the change in the average cost of a pack ([tex]\Delta c[/tex]), in monetary units, divided by the change in time ([tex]\Delta t[/tex]), in years. Then, the average rate of change is:

[tex]r = \frac{\$\,5.31-\$\,0.88}{2000-1980}[/tex]

[tex]r = \$\,0.22\,\frac{1}{yr}[/tex]

The average rate of change of the cost of a pack is 22 cents per year.

Another name for the average rate of change is slope.

A storage box with a square base must have a volume of 80 cubic centimeters. The top and bottom cost $0.20 per square centimeter and the sides cost $0.10 per square centimeter. Find the dimensions that will minimize cost. (Let x represent the length of the sides of the square base and let y represent the height. Round your answers to two decimal places.) x

Answers

Answer:

Box dimensions:

x =  3.42 cm

y = 6.84 cm

C(min) = 14.04 $

Step-by-step explanation:

We need the surface area of the cube:

S(c)  =  2*S₁ ( surface area of top or base) +  4*S₂ ( surface lateral area)

S₁  = x²        2*S₁  = 2*x²

Surface lateral area is:

4*S₂  =  4*x*h                          V(c) =  80 cm³  =  x²*h          h  =  80/x²

4*S₂  = 4*80/x

4*S₂  = 320 / x

Costs

C (x)  =  0.2* 2*x²   +  0.1 * 320/x

Taking derivatives on both sides of the equation we get:

C´(x)  =    0.8*x   -  32/x²

C´(x)  =  0            0.8*x - 32/x²  = 0

0.8*x³  -  32  =  0            x³  =  32/0.8

x³  =  40  

x =  3.42 cm

h =  80/(3.42)²          h  = 6.84 cm

To find out if x = 3.42 brings a minimum value for C we go to the second derivative

C´´(x) =  64/x³       is always positive for  x > 0  

The C(min) = 0.4*(3.42)²  +  32/(3.42)

C(min)  =  4.68 +  9.36

C(min)  = 14.04 $

19. Divide 6/13 by 6/12.
A. 12/13
B. 13/12
c. 1/12
D.9/16

Answers

Answer:

12/13 is the answer

Step-by-step explanation:

I think the answer is A . 12/13

SOMEONE PLEASE HELP ASAP IM IN A TEXT NO EXPLANAION NEEDED JUST THE FUNCTION!!THANK YOU SO MUCH :)

Answers

Answer:

[tex]\frac{-1}{4} x^{2}[/tex]

[tex]\frac{-1}{4} g(x)[/tex]

Step-by-step explanation:

QUICKKKKKKKKKKKKKKKKKKKKKKK

Answers

Answer:

Step-by-step explanation:

It’s G

The weights of certain machine components are normally distributed with a mean of 5.19 ounces and a standard deviation of 0.05 ounces. Find the two weights that separate the top 8% and the bottom 8%. These weights could serve as limits used to identify which components should be rejected

Answers

Answer:

The  weight that separate the top 8% by 5.2605 and the weight that separate bottom 8% by 5.1195.

Step-by-step explanation:

We are given that

Mean,[tex]\mu=5.19[/tex]

Standard deviation,[tex]\sigma=0.05[/tex]

We have to find the two weights that separate the top 8% and the bottom 8%.

Let x1 and x2 the two weights that separate the top 8% and the bottom 8%.

Z-value for p-value =0.08 =[tex]-1.41[/tex]

For 8% bottom

[tex]Z=\frac{x_1-\mu}{\sigma}=-1.41[/tex]

[tex]\frac{x_1-5.19}{0.05}=-1.41[/tex]

[tex]x_1-5.19=-1.41\times 0.05[/tex]

[tex]x_1=-1.41\times 0.05+5.19[/tex]

[tex]x_1=5.1195[/tex]

For 8% top

p-Value=1-0.08=0.92

Z- value=1.41

Now,

[tex]\frac{x_2-5.19}{0.05}=1.41[/tex]

[tex]x_2-5.19=1.41\times 0.05[/tex]

[tex]x_2=1.41\times 0.05+5.19[/tex]

[tex]x_2=5.2605[/tex]

(x1,x2)=(5.1195,5.2605)

Annual entertainment expenses in a population of 100 families have a mean of $2040 and a standard deviation of $360.
(a) Find the mean and standard deviation of monthly expenses.
(b) What is the total amount of monthly entertainment expenses for this population?

Answers

Answer:

The correct answer is:

(a) Mean = 170,

    Standard deviation = 30

(b) 1700

Step-by-step explanation:

Given:

n = 100μ = 2040σ = 360

(a)

Mean of monthly expenses will be:

= [tex]\frac{\mu}{2}[/tex]

= [tex]\frac{2040}{2}[/tex]

= [tex]170[/tex]

Standard deviation will be:

= [tex]\frac{\sigma}{12}[/tex]

= [tex]\frac{360}{12}[/tex]

= [tex]30[/tex]

(b)

The total amount of monthly expenses will be:

= [tex]n\times \frac{\mu}{12}[/tex]

= [tex]100\times 170[/tex]

= [tex]1700[/tex]

A binomial experiment consists of 11 trials. The probability of success on trial 4 is 0.41. What is the probability of success on trial 8?A. 0.71B. 0.41C. 0.39D. 0.84E. 0.14

Answers

Answer:

B. 0.41

Step-by-step explanation:

Binomial experiment:

In a binomial experiment, the probability of the success on each trial is always the same.

The probability of success on trial 4 is 0.41.

This means that the probability of success on trial 8, and all the other 10 trials, is of 0.41, and thus the correct answer is given by option B.

) Out of 28 people, 12 adults attended a play. What is the ratio of children to attendees

Answers

Answer:

I think the answer is 12:16 because my brother told me

Step-by-step explanation:

I dont know the answer my brother told me this answer. HOPE THIS HELPS

16:28 I’m assuming, not sure if it’s correct

Divide the following complex numbers:
[tex](2 + i) \div (1 - 4i)[/tex]

Answers

Answer:

[tex]-\dfrac{2}{17} + \dfrac{9}{17}i[/tex]

Step-by-step explanation:

[tex] (2 + i) \div (1 - 4i) = [/tex]

[tex] = \dfrac{2 + i}{1 - 4i} [/tex]

[tex] = \dfrac{2 + i}{1 - 4i} \times \dfrac{1 + 4i}{1 + 4i} [/tex]

[tex] = \dfrac{(2 + i)(1 + 4i)}{(1 - 4i)(1 + 4i)} [/tex]

[tex] = \dfrac{2 + 8i + i + 4i^2}{1 + 16} [/tex]

[tex] = \dfrac{2 + 9i - 4}{17} [/tex]

[tex] = \dfrac{-2 + 9i}{17} [/tex]

[tex]= -\dfrac{2}{17} + \dfrac{9}{17}i[/tex]

express the ratio as a fraction in the lowest term.3600s:2hours​

Answers

Step-by-step explanation:

3600s=1hr

so, 1hr:1hr

1:1

Based on the concept of fractions and the information in the question, the fraction form in the lowest term is 1/2.

What is Fraction?

Fraction is a term that is used to describe the portion/part of the whole thing. It represents the equal parts of the whole.

Generally, the term fraction has two parts, namely numerator and denominator.

Hence, in this case, to express the ratio as a fraction in its lowest term, convert both units to the same unit of time.

1 hour is equal to 3600 seconds so 2 hours is equal to 2 * 3600 = 7200 seconds.

Now the ratio is 3600 seconds to 7200 seconds.

To simplify this ratio we can divide both terms by their greatest common divisor which is 3600.

So the simplified ratio is 1:2.

Therefore, in this case, it is concluded that the fraction form in the lowest term is 1/2.

Learn more about fraction here: https://brainly.com/question/30154928

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You’re making 40 servings of English custard. Each serving is 250 ml. The following recipe yields 2 L.

Calculate how much of each ingredient you will need to make enough servings of the custard.

Milk 2 L

Vanilla essence 4 ml

Sugar 200 g

Egg yolks 20

Answers

Answer:

Milk   10 L

Vanilla essence  = 20 ml

Sugar   = 1kg

Egg yolks   100 yolks

Step-by-step explanation:

2l/250ml = 8 servings per recipe ,

40 servings/8 = 5 "batches"

Milk 2 L * 5 = 10 L

Vanilla essence 4 ml * 5 = 20 ml

Sugar 200 g * 5  = 1000g = 1kg

Egg yolks 20 * 5 = 100 yolks

Simplify 6/x^2−2x/x^2+3.

Answers

Answer:

3x2−2x+6/x2

Step-by-step explanation:

have a great day <33333

(x-5)(X+12)=-70
[tex](x - 5)(x + 12) = - 70[/tex]

Answers

Answer:

[tex]x = - 2[/tex]

[tex]x = - 5[/tex]

Step-by-step explanation:

Give

[tex](x - 5)(x + 12)[/tex]

Apply FOIL Method

[tex]x {}^{2} + 7x - 60 = - 70[/tex]

Add 70 on both sides

[tex] {x}^{2} + 7x + 10[/tex]

Factor

[tex](x + 2)(x + 5)[/tex]

So our roots are

x=-2

x=-5

Answer:

dtet

Step-by-step explanation:

dgbyn

Change 84cm into millimetres

Answers

Answer:

840 mm

Step-by-step explanation:

multiply by 10

Answer:

840 millimetres

Step-by-step explanation:

To convert cm to mm, multiply the value in cm by 10

84cm x 10 = 840 mm

Hope this helps! <3

find the unknown value

no link​

Answers

Answer:

x = 120°y = 75°z = 45°

Step-by-step explanation:

Refer to the attachment for the steps.

Joshua and his children went into a grocery store and will buy bananas and peaches. Each banana costs $0.70 and each peach costs $2. Joshua has a total of $25 to spend on bananas and peaches. Write an inequality that would represent the possible values for the number of bananas purchased, bb, and the number of peaches purchased, p.p.

Answers

Dang, now I just got confused

The histogram below shows the distribution of the assets (in millions of dollars) of 71 companies. Does the distribution appear to be normal? Why or why not?

No, the assets do not appear to follow a normal distribution, the values are evenly concentrated.
Yes, the assets appear to follow a normal distribution, the values are evenly distributed. No, the assets do not appear to follow a normal distribution, the values are concentrated in the center and taper off towards the ends.
Yes, the assets appear to follow a normal distribution, the values are concentrated in the center and taper off towards the ends.

Answers

Answer:

Yes, the assets appear to follow a normal distribution, the values are concentrated in the center and taper off towards the ends

Step-by-step explanation:

The distribution shown above is normal as it exhibits symmetry. This means thatvtge values are concentrated in the middle with the peak so situated in the middle of the distribution which is exactly what is displayed above. As we move towards either side of the center, the values begin to decrease and we have the tail at either side of the midpoint and not on one side of the distribution.

The number of hurricanes that will hit a certain house in the next ten years is Poisson distributed with mean 4. Each hurricane results in a loss that is exponentially distributed with mean 1000. Losses are mutually independent and independent of the number of hurricanes. Calculate

Answers

Answer:

The variance of total loss is 8000000

Step-by-step explanation:

Let

[tex]X \to[/tex] Number of hurricane

Poisson [tex]E(X) = 4[/tex]

[tex]Y \to[/tex] Loss in each hurricane

Exponential [tex]E(Y) = 1000[/tex]

[tex]T \to[/tex] Total Loss

Required

The variance of the total loss

This is calculated as:

[tex]Var(T) = Var(E(T|X)) + E(Var(T|X))[/tex]

Where:

[tex]E(T|X) \to[/tex] Expected total loss given X hurricanes

And it is calculated as:

[tex]E(T|X) = E(Y) *N[/tex] --- Expected Loss in each hurricane * number of loss

[tex]Var(T|X) \to[/tex] Variance of total loss given X hurricanes

And it is calculated as:

[tex]Var(T|X) = Var(Y) * N[/tex] ---- --- Variance of loss in each hurricane * number of loss

So, we have:

[tex]Var(T) = Var(E(T|X)) + E(Var(T|X))[/tex]

[tex]Var(T) = Var(E(Y) * N) + E(Var(Y) * N)[/tex]

For exponential distribution;

[tex]Var(Y) = E(Y)^2[/tex]

So, we have:

[tex]Var(T) = Var(E(Y) * X) + E(E(Y)^2 * X)[/tex]

Substitute values

[tex]Var(T) = Var(1000 * X) + E(1000^2 * X)[/tex]

Simplify:

[tex]Var(T) = Var(1000 * X) + 1000^2E(X)[/tex]

Using variance formula, we have:

[tex]Var(T) = 1000^2Var(X) + 1000^2E(X)[/tex]

For poission distribution:

[tex]Var(X) = E(X)[/tex]

So, we have:

[tex]Var(X) = E(X) = 4[/tex]

The expression becomes:

[tex]Var(T) = 1000^2*4 + 1000^2*4[/tex]

[tex]Var(T) = 1000000*4 + 1000000*4[/tex]

[tex]Var(T) = 4000000 + 4000000[/tex]

[tex]Var(T) = 8000000[/tex]

an oil tank, which is a shape of a cylinder, is 3m high and has a diameter of 6m. the oil tank is two-thirds full. find the number of cubic meters of oil in the tank. use 3.14 for pi

Answers

Answer:

Step-by-step explanation:

The key is to find out the entire volume the tank can hold when it is full, then take 2/3 of that amount. The volume of a cylinder is

[tex]V=\pi r^2h[/tex] and filling in:

[tex]V=3.14(3)^2(3)[/tex] (if the diameter is 6 m, the radius is 3) so

V = 84.78 m³ when it is full all the way. If we need the amount that makes up 2/3 of that:

[tex]\frac{2}{3}(84.78)=56.52m^3[/tex]

Round 790 to the nearest hundred? Hurry pls and please don't answer if you know you wrong

Answers

Answer:

HEY THERE!

Step-by-step explanation:

the answer is:800

hope it helps and have a great day!

Ans: 800

explanation:

Identify the domain of the function shown in the graph.

A. -2 ≤ x ≤ 2
B. {-2,2}
C. x is all real numbers.
D. x > -2​

Answers

Answer:

C. x is all real numbers

Step-by-step explanation:

Think of domain as how far the graph expands on the x-axis as asymptotes as the limits. So in this case, the graph extends infinitely on the x-axis; so it should be all real numbers.

The perimeter of an equilateral triangle is 126mm.
State the length of one of its sides.

Answers

Answer:  42

Explanation:

Divide 126 over 3. This is because any equilateral triangle has all three sides the same length

126/3 = 42

Each side is 42 mm long

So its perimeter is 3*42 = 126 mm

Side note: if your teacher says a triangle is equiangular, then it's automatically equilateral as well (and vice versa).

The length of one of its sides of an equilateral triangle is  42 mm.

What is equilateral triangle?

In geometry, an equilateral triangle exists as a triangle that contains all its sides equivalent in length. Since the three sides stand equivalent therefore the three angles, opposite to the equivalent sides, stand equivalent in measure. Thus, it stands also named an equiangular triangle, where each angle measure 60 degrees.

The perimeter of an equilateral triangle exists 126 mm.

The equilateral triangle contains all three sides of the same length

126/3 = 42

Each side stands 42 mm long

So its perimeter stands 3 [tex]*[/tex] 42 = 126 mm

Therefore, the length of one of its sides = 42 mm.

To learn more about equilateral triangle

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in a standard deck of 52 cards what is the probability of drawing 2 jacks

Answers

Answer:

1/169

Step-by-step explanation:

There are 4 jacks in a deck of cards.

So 4/52 is the probability of drawing 1 card

The probability of drawing 2 jacks is 4/52*4/52

Solve, and that is 1/169

I hope this helps!

What is net cash flow

Answers

Net cash flow is a profitability metric that represents the amount of money produced or lost by a business during a given period.
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