Question: Based on the information given above, please answer questions 7 through 1 0 . In certain states, savings banks are permitted to sell life insurance.
Based on the information given above, please answer questions through
In certain states, savings banks are permitted to sell life insurance. The approval process consists of underwriting, which includes a review of the application, a medical information bureau check, possible requests for additional medical information and medical exams, and a policy compilation stage, in which the policy pages are generated and sent to the bank for delivery. The ability to deliver approved policies to customers in a timely manner is critical to the profitability of this service to the bank. Using the DCOVA framework you defined the variable of interest as the total processing time in days. You collect the data by selecting a random sample of approved policies during a period of one month. You organize the data collected in a worksheet, and present the summary statistic as p Q:
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