Author Question: In order to set rates, an insurance company is trying to estimate the number of sick days that full ... (Read 77 times)

Arii_bell · **on:** Jul 25, 2018

In order to set rates, an insurance company is trying to estimate the number of sick days that full time workers at a

What will be an ideal response?

Question 2

If sample data are taken from a population that is normally distributed, a normal probability plot of the observed data values versus the expected z scores will

A) look exponential in nature. B) be approximately linear.
C) have no discernable pattern. D) have a correlation coefficient near 0.

Compute P(x) using the binomial probability formula. Then determine whether the normal distribution can be used as an approximation for the binomial distribution. If so, approximate P(x) and compare the result to the exact probability.

leannegxo · **Reply #1 on:** Jul 25, 2018

Answer to Question 1

a) 17
b) 24; A 98 confidence interval requires a larger sample than a 95 confidence interval because more information is needed from the population to be 98 confident.

Answer to Question 2

B