# Question

According to the Insurance Institute of America, a family of four spends between $400 and $3,800 per year on all types of insurance. Suppose the money spent is uniformly distributed between these amounts.

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?

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?

## Answer to relevant Questions

The April rainfall in Flagstaff, Arizona, follows a uniform distribution between 0.5 and 3.00 inches.a. What are the values for a and b?b. What is the mean amount of rainfall for the month? What is the standard deviation?c. ...A normal population has a mean of 12.2 and a standard deviation of 2.5.a. Compute the z value associated with 14.3.b. What proportion of the population is between 12.2 and 14.3?c. What proportion of the population is less ...WNAE, an all-news AM station, finds that the distribution of the lengths of time listeners are tuned to the station follows the normal distribution. The mean of the distribution is 15.0 minutes and the standard deviation is ...A recent issue of Bride Magazine suggested that couples planning their wedding should expect two-thirds of those who are sent an invitation to respond that they will attend. Rich and Stacy are planning to be married later ...The net sales and the number of employees for aluminum fabricators with similar characteristics are organized into frequency distributions. Both are normally distributed. For the net sales, the mean is $180 million and the ...Post your question

0