Question
A study by Quadrant Information Services commissioned by Insure.com calculated auto insurance rates for each of the 50 states; and as a result, the average
A study by Quadrant Information Services commissioned by Insure.com calculated auto insurance rates for each of the 50 states; and as a result, the average annual rate for the United States was $1317. Suppose annual rates of auto insurance in the United States are normally distributed with a standard deviation of $324. Based on these data, what is the probability that a randomly selected auto insurance rate in the United States would be greater than $1750? What percentage of auto insurance rates would be less than $1200? What percentage of auto insurance rates would be between $1100 and $1500?
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