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Author Question: A retired statistician was interested in determining the average cost of a $200,000.00 term life ... (Read 26 times)

Melani1276

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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
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Marked as best answer by Melani1276 on Feb 14, 2020

covalentbond

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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.
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Melani1276

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Reply 2 on: Feb 14, 2020
Excellent

skipfourms123

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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