(a) For how many months should the satellite be insured to be 98% confident that it will last beyond the insurance date? (Round your answer to the nearest month.) months (b) If the satellite is insured for 84 months, what is the probability that it will malfunction before the insurance coverage ends? (Round your answer to four decimal places.) (c) If the satellite is insured for 84 months, what is the expected loss to the insurance company? (Round your answer to the nearest dollar.) $ (d) If the insurance company charges $3 million for 84 months of insurance, how much profit does the company expect to make? (Round your answer to the nearest dollar.)
(a) For how many months should the satellite be insured to be 98% confident that it will last beyond the insurance date? (Round your answer to the nearest month.) months (b) If the satellite is insured for 84 months, what is the probability that it will malfunction before the insurance coverage ends? (Round your answer to four decimal places.) (c) If the satellite is insured for 84 months, what is the expected loss to the insurance company? (Round your answer to the nearest dollar.) $ (d) If the insurance company charges $3 million for 84 months of insurance, how much profit does the company expect to make? (Round your answer to the nearest dollar.)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.5: Comparing Sets Of Data
Problem 4CYU
Related questions
Question
A relay microchip in a telecommunications satellite has a life expectancy that follows a
(a) For how many months should the satellite be insured to be 98% confident that it will last beyond the insurance date? (Round your answer to the nearest month.)
months
(b) If the satellite is insured for 84 months, what is theprobability that it will malfunction before the insurance coverage ends? (Round your answer to four decimal places.)
(c) If the satellite is insured for 84 months, what is the expected loss to the insurance company? (Round your answer to the nearest dollar.)
$
(d) If the insurance company charges $3 million for 84 months of insurance, how much profit does the company expect to make? (Round your answer to the nearest dollar.)
$
months
(b) If the satellite is insured for 84 months, what is the
(c) If the satellite is insured for 84 months, what is the expected loss to the insurance company? (Round your answer to the nearest dollar.)
$
(d) If the insurance company charges $3 million for 84 months of insurance, how much profit does the company expect to make? (Round your answer to the nearest dollar.)
$
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