Statistics problem
Not what you're looking for?
A company that sells annuties must base the annual payment on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approximately a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. What proportion of the plan recipients would receive payments beyond age 75?
A. 2.28%
B. 0.9772
C. 0.9997
D. 0.8413
Purchase this Solution
Solution Summary
Solution contains explanation and formula for calculating proportion of the plan recipients would receive payments beyond age 75
Solution Preview
Hello
The lifetimes of the participants are normally distributed with mean = 68 years and standard deviation of 3.5 years. We need to find the area under normal curve for lifetimes greater than 75 ...
Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.