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Suppose the average yearly cost of car insurance in Australia is $800. Since the annual insurance cost varies by location, what probability distribution best describe
Suppose the average yearly cost of car insurance in Australia is $800. Since the annual insurance cost varies by location, what probability distribution best describe the cost of car insurance in Australia? Are the data uniformly or normally distributed? If the data are normally distributed with a mean $800 and standard deviation $100, what percentage of consumer pay more than $900?
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