Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

GLL insurance company often tracks life expectancy information to determine life insurance policies for its policyholders. Two years ago, the average life expectancy of all

GLL insurance company often tracks life expectancy information to determine life insurance policies for its policyholders. Two years ago, the average life expectancy of all policyholders was 79.6 years with a standard deviation of 3.56 years. At this time, GLL wants to estimate the average life expectancy to within one year with 99% confidence. How many randomly selected recently paid policies would be needed to sample?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Experimental mortality: Did participants drop out during the study?

Answered: 1 week ago

Question

Subjective norms, i.e. the norms of the target group

Answered: 1 week ago

Question

The relevance of the information to the interpreter

Answered: 1 week ago