Explain the definition of standard deviation. Give some practical uses of variation

Fantastic news! We've Found the answer you've been seeking!

Question:

Related Book For answer-question

Principles of Risk Management and Insurance

ISBN: 978-0132992916

12th edition

Authors: George E. Rejda, Michael McNamara

See More Books

Posted Date: Jul 24, 2018 09:40 AM

See More Questions

Explain the definition of total disability that is found in a typical waiver-of-premium provision.
Explain the definition of disability used in the OASDI program.
Explain the definition of ethical relativism given in the text: the view that there is no objective standard of right and wrong, even in principle.
Calculate the binding energy per nucleon for a 14/7N nucleus.
Why is the abrasive wear resistance of a material a function of its hardness?
The total assets of the Dexter Company are $270 million, and the firms present capital structure, which follows, is considered to be optimal. Assume that there is no short-term debt. Long-term debt...
Consider a flat plate subject to parallel flow (top and bottom) characterized by $u_{\infty}=5 \mathrm{~m} / \mathrm{s}, T_{\infty}=20^{\circ} \mathrm{C}$. (a) Determine the average convection heat...
Kenoly Corporation owns a patent that has a carrying amount of $300,000. Kenoly expects future net cash flows from this patent to total $210,000 over its remaining life of 10 years. The recoverable...
In Thunder Bay, a public survey was done that suggests that people are generally supportive of using automated, AI-based video analysis software [1]. Yet, elsewhere in Canada, such software has come...
Trini Company set the following standard costs per unit for its single product Direct materials (30 pounds @ $5.10 per pound) Direct labor (8 hours @ $14 per hour) Variable overhead (8 hours@ $6 per...
a) Explain the variation of work per cycle of reciprocating compressors which compress the air in a polytrophic process with the variation of expansion index (n) from 1 to 1.4 (Use the p-v diagram...
Explain the terms : state, phase, process and cyclic process.
Define the term heat.
What is PMM-1.
State zeroth law of thermodynamics.
Explain the concept of temperature.
Perform the indicated operation and fully simplify the result.
A woman at a point A on the shore of a circular lake with radius 2 mi wants to arrive at the point C diametrically opposite on the other side of the lake in the shortest possible A time. She can walk...
Calculate the transpose (and the complex conjugate) of the matrix Z= [1+2j, 3+4j; 5+6j, 7+9j] Create the matrix magic(4). Then, set all the diagonal elements to zero. Create the matrix magic(4)....
a. Define the meaning of underwriting. b. Briefly explain the basic principles of underwriting. c. Identify the major sources of information available to underwriters.
a. Briefly explain the basic characteristics of a defined contribution retirement plan. b. What is a money purchase plan?
Jeff currently earns $3000 per month. He has an individual disability-income policy that will pay $2000 monthly if he is totally disabled. Disability is defined in terms of the worker's own...
Find each probability using the standard normal distribution. (a) $P(z>-1.68)$ (b) $P(z <2.23)$ (c) \(P(-0.47
Find the probability that a randomly selected person has an IQ score between 95 and 105. Is this an unusual event? Explain. In a standardized IQ test, scores are normally distributed, with a mean...
The random variable $x$ is normally distributed with the given parameters. Find each probability. (a) $\mu=9.2, \sigma \approx 1.62, P(x <5.97)$ (b) $\mu=87, \sigma \approx 19, P(x>40.5)$ (c)...

Explain the definition of standard deviation. Give some practical uses of variation

Question:

Expert Answer:

Standard deviation is a simple concept but it is often badly explained Imagine you have this sample 11 12 13 14 15 16 The mean of this sample is 135 A... View the full answer

Principles of Risk Management and Insurance

Students also viewed these mathematics questions