5. An insurance company has 10,000 automobile pol- icyholders. The expected yearly claim per policy- holder is $240, with a standard deviation of $800. Approximate the probability that the total yearly claim exceeds $2.7 million.
5. An insurance company has 10,000 automobile pol- icyholders. The expected yearly claim per policy- holder is $240, with a standard deviation of $800. Approximate the probability that the total yearly claim exceeds $2.7 million.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.4: Discrete Random Variables; Applications To Decision Making
Problem 10E
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