Question
Suppose that yearly health care expenses for a family of four are normally distributed with a mean expense equal to $3,000 and a standard deviation
Suppose that yearly health care expenses for a family of four are normally distributed with a mean expense equal to $3,000 and a standard deviation of $500.An insurance company has decided to offer a health insurance premium reduction if a family's health care expenses do not exceed $2,780.What percentage of families will be eligible for the premium reduction?
The Census Bureau's Current Population Survey shows 28% of individuals, ages 25 and older, have completed four years of college.For a sample of 15 individuals, ages 25 and older, what is the probability that three or more will have completed four years of college?
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