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Suppose that car insurance premiums in one region have a quarterly mean of $324 with a standard deviation of $34. a. Based upon the Empirical
Suppose that car insurance premiums in one region have a quarterly mean of $324 with a standard deviation of $34. | |||||
a. | Based upon the Empirical Rule, use Excel to calculate the interval that contains about 99% of all quarterly car insurance premiums. | ||||
b. | Using Excel, calculate the z-score (standard score) of a quarterly premium of $278. | ||||
c. | If the z-score (basic standardized score) of a quarterly premium was stated to be 1.7, use Excel to calculate the quarterly premium. | ||||
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