Question
A large insurer of household goods has received a large number of claims from clients during the company's existence. The claim amounts follow an approximate
A large insurer of household goods has received a large number of claims from clients during the company's existence. The claim amounts follow an approximate Normal distribution with mean R47 500 and standard deviation R5 300. You can use the tables in INTROSTAT, without interpolation (round off to the closest z-value) OR Excel.
What is the probability a claim will be over R60 000?
Calculate the probability that a randomly selected claim will be between R45 500 and R50 000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
A Handbook Of Statistical Analyses Using R
Authors: Torsten Hothorn, Brian S Everitt
3rd Edition
1482204592, 9781482204599
