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Meico insurance company offers car insurance contracts by directly contacting potential customers through phone calls. Sales agents make these phone calls and describe insurance policies.
Meico insurance company offers car insurance contracts by directly contacting potential customers through phone calls. Sales agents make these phone calls and describe insurance policies. The weekly sales of agents follow an approximately normal distribution with mean of $15 thousand and standard deviation of $5 thousand. If Meico management would like to improve sales agents' incentives by offering a bonus to agents selling more than $25 thousand weekly, what proportion of sales agents qualify for the bonus? Select one: A a. 16% A b. 5% A c. 95% C d. 2.5% Te. 1% A yogurt producer implements a new quality control system. To meet the company's standards, any product should have a stable protein content. If the standard deviation of the protein content is lower than 0.5 grams per jar, this product is approved. The company hires you to decide whether product X meets the standards. You collect a random sample of 60 jars and measure protein content. You find the average value is 7.2 grams per jar and standard deviation equal to 0.43 grams perjar. What distribution will you use to test whether the product meets the company's standards? Select one: A . ,' a. t distribution with 60 degrees of freedom O b. t distribution with 59 degrees of freedom /\\ c. x2 distribution with 60 degrees of freedom /\\ d. x2 distribution with 59 degrees of freedom h ,l e. F distribution with 59 and 60 degrees of freedom
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