Question
A researcher took a sample of 10years and found that the average annual profits (in millions of dollars, y) of insurance companies in the United
A researcher took a sample of 10years and found that the average annual profits (in millions of dollars, y) of insurance companies in the United States can be predicted by the equation y=342.62.10x where x is the number of major calamities (such as tornadoes, hurricanes, earthquakes, floods, etc.) that occurred during that year. The number of calamities recorded ranged from 10 to 35. A randomly selected year had 24 major calamities. What are the expected profits of US insurance companies for that year?
a) $342.6 million
b) $2.10 million
c) $292.2 million
d) $393 million
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