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A couple statistics questions that I am very confused on, my answers are included. 10 points?
5. An insurance company has estimated the following cost probabilities for the next year on a particular model of car:
cost | $0 $500 $1000 $2000
prob | .60 .05 .13 ????
The expected cost to the insurance company is (approximately):
A) $155
B) $915
C) $645
D) $595
My answer is A.
9. Which of the following is not true concerning discrete probability distribution?
A) The probability of any specific value is between 0 and 1, inclusive.
B) The mean of the distribution is between the smallest and largest value in the distribution.
C) The sum of all probabilities is 1.
D) The standard deviation of the distribution is between –1 and 1.
E) The distribution may be displayed using a probability histogram.
My answer is B
10. A particular die is "loaded" (weighted) in such a way that the chance of rolling a one is 0.131, the chance of rolling a 6 is 0.202, and the chances of rolling 2, 3, 4, or 5, are each 1/6. The expected value of the total number of spots that show in four rolls of the die is
A) 3.50
B) 3.68
C) 14.4
D) 14.71
My answer is D
2 Answers
- JerryLv 71 decade agoFavorite Answer
5) The missing value (??) must be 1 - .6 - .05 - .13 = .22, so you must add that to the weighted average.
( .6 * 0 ) + ( .05 * 500 ) + ( .13 * 1000 ) + ( .22 * 2000 ) = $595 (D)
9) should be (D).
B cannot be correct because the mean must be between the largest and smallest.
10) Your answer is correct.
- ?Lv 44 years ago
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