This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A retired statistician was interested in determining the average cost of a $200,000.00 term life ... (Read 60 times)

Melani1276

  • Hero Member
  • *****
  • Posts: 516
on: Feb 14, 2020
A retired statistician was interested in determining the average cost of a $200,000.00 term life insurance policy for a 60-year-old male non-smoker. He randomly sampled 65 subjects (60-year-old male non-smokers) and constructed the following 95 percent confidence interval for the mean cost of the term life insurance: ($850.00, $1050.00). Explain what the phrase "95 percent confident" means in this situation.
◦ 95 percent of all the life insurance costs will fall within the specified interval.
◦ 95 percent of all retired statisticians are underinsured.
◦ In repeated sampling, 95 percent of the intervals constructed would contain the value of the true population mean.
◦ In repeated sampling, the mean of the population will fall within the specified intervals 95 percent of the time.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Melani1276 on Feb 14, 2020

covalentbond

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Feb 14, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 25% of students answer this correctly


Melani1276

  • Member
  • Posts: 516
Reply 2 on: Feb 14, 2020
Wow, this really help

duy1981999

  • Member
  • Posts: 341
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Cocaine was isolated in 1860 and first used as a local anesthetic in 1884. Its first clinical use was by Sigmund Freud to wean a patient from morphine addiction. The fictional character Sherlock Holmes was supposed to be addicted to cocaine by injection.

Did you know?

Allergies play a major part in the health of children. The most prevalent childhood allergies are milk, egg, soy, wheat, peanuts, tree nuts, and seafood.

The life cycle of HIV The life cycle of HIV
Landmarks in the evolution of life on Earth Landmarks in the evolution of life on Earth
Long-Term Potentiation Long-Term Potentiation
Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ... Age-standardized disability-adjusted life year (DALY) rates from hepatitis B by country (per 100 000 ...
Full-term pregnancy Full-term pregnancy
Determining Numerical Dates for Sedimentary Strata Determining Numerical Dates for Sedimentary Strata
Video: Acid-base imbalances - metabolic acidosis and alkalosis

For a complete list of videos, visit our video library