and s = .2. Consider a random sample of 100 variable life insurance policies and let x represent the mean ratio for the sample.

a. Find E(x) and interpret its value.

b. Find Var(x).

c. Describe the shape of the sampling distribution of x.

d. Find the z-score for the value x = 1.52.

e. Find P(x 7 1.52).

f. Would your answers to parts a–e change if the rates (x) of return on the investment for two consecutive years was not normally distributed? Explain.