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 42 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
YES! Correct, THANKS for helping me on my review

billybob123

  • Member
  • Posts: 336
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Patients should never assume they are being given the appropriate drugs. They should make sure they know which drugs are being prescribed, and always double-check that the drugs received match the prescription.

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

A full-term pregnancy. Image illustrates position of the fetus and the structures associated with pr A full-term pregnancy. Image illustrates position of the fetus and the structures associated with pr
five realms of family life five realms of family life
Healthy eating is a way of life Healthy eating is a way of life
Types of Long-Term Memories Types of Long-Term Memories
Average quarterly presidential approval rating, from Eisenhower to Trump Average quarterly presidential approval rating, from Eisenhower to Trump
Flowering plant life cycle Flowering plant life cycle
Video: Carbohydrate Metabolism: Introduction to renal processes and filtrate formation and composition

For a complete list of videos, visit our video library