According to the Insurance Institute of America, a family of four spends between $400 and $3,800 per
Question:
a. What is the mean amount spent on insurance?
b. What is the standard deviation of the amount spent?
c. If we select a family at random, what is the probability they spend less than $2,000 per year on insurance per year?
d. What is the probability a family spends more than $3,000 per year?
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a Mean is 2100 found by 400 3...View the full answer
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Related Book For 
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal
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