Question: According to an article on Yahoo com on February 19 2012
According to an article on Yahoo.com on February 19, 2012, the average salary of actuaries in the U.S. is $98,620 a year (http://education.yahoo.net/articles/careers_for_shy_people_2.htm?kid=1KWO3). Suppose that currently the distribution of annual salaries of all actuaries in the U.S. is approximately normal with a mean of $98,620 and a standard deviation of $18,000. How much would an actuary have to be paid in order to be in the highest-paid 10% of all actuaries?
Answer to relevant QuestionsMong Corporation makes auto batteries. The company claims that 80% of its LL70 batteries are good for 70 months or longer. a. What is the probability that in a sample of 100 such batteries, exactly 85 will be good for 70 ...Two companies, A and B, drill wells in a rural area. Company A charges a flat fee of $3500 to drill a well regardless of its depth. Company B charges $1000 plus $12 per foot to drill a well. The depths of wells drilled in ...According to the College Board (http://professionals.collegeboard.com/gateway), the mean SAT mathematics score for all college-bound seniors was 511 in 2011. Suppose that this is true for the current population of ...What is an estimator? When is an estimator unbiased? Is the sample mean, , an unbiased estimator of µ? Explain. Refer to Exercise 6.93. Otto is trying out for the javelin throw to compete in the Olympics. The lengths of his javelin throws are normally distributed with a mean of 253 feet and a standard deviation of 8.4 feet. What is ...
Post your question