Question
A manager for an insurance company believes that customers have the following preferences for life insurance products: 20% prefer Whole Life, 20% prefer Universal Life,
A manager for an insurance company believes that customers have the following preferences for life insurance products: 20% prefer Whole Life, 20% prefer Universal Life, and 60% prefer Life Annuities. The results of a survey of 231customers were tabulated. Is it possible to refute the sales manager's claimed proportions of customers who prefer each product using the data? Product Number Whole: 46, Universal: 35, Annuities: 150
Step5of10:
Find the expected value for the number of customers who prefer Universal Life. Round your answer to two decimal places.
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