Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose an insurance firm has three groups of insured people who have claim distribution of the form: 3000 of claims follow a N(u =

Suppose an insurance firm has three groups of insured people who have claim distribution of the form: 3000 of claims follow a N(u = 110,, o = 100) distribution , 2500 of claims folow a N(u = 120,, o = 200) distributions and 4500. of claims folow a N(u = 130, o = 300) i) What is the probability that a random claim will exceed $6,000? ii) Use CLT to caleulate the probability that a random claim will exceed $10,000. [100 S = 200 -0 -0 300

Step by Step Solution

3.39 Rating (155 Votes )

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

Recommended Textbook for

OM operations management

Authors: David Alan Collier, James R. Evans

5th edition

1285451376, 978-1285451374

More Books

Students also viewed these Mathematics questions

Question

What is the driving force for mountain building in the Andes?

Answered: 1 week ago

Question

How can you determine which evaluative criteria consumers use?

Answered: 1 week ago