Ask Question
18 October, 23:25

The mean annual automobile insurance premium is $950, with a standard deviation of $175. The data set has a bell-shaped distribution. Estimate the percent of premiums that are between $600 and $1300.

+2
Answers (1)
  1. 18 October, 23:32
    0
    95% of premiums that are between $600 and $1300.

    Step-by-step explanation:

    The Empirical Rule states that, for a normally distributed random variable:

    68% of the measures are within 1 standard deviation of the mean.

    95% of the measures are within 2 standard deviation of the mean.

    99.7% of the measures are within 3 standard deviations of the mean.

    In this problem, we have that:

    Mean = 950

    Standard deviation = 175

    Estimate the percent of premiums that are between $600 and $1300.

    600 = 950 - 2*175

    So 600 is two standard deviations below the mean.

    1300 = 950 + 2*175

    So 1300 is two standard deviations above the mean

    By the Empirical Rule, 95% of premiums that are between $600 and $1300.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The mean annual automobile insurance premium is $950, with a standard deviation of $175. The data set has a bell-shaped distribution. ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers