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An insurance agent provides auto and home insurance to thousands of clients.
An insurance agent provides auto and home insurance to thousands of clients. The amount of auto claims for the coming year among her clients, X1, is assumed to follow a normal distribution with mean μ = $1200 and variance σ2 = 22,500; the amount of home claims for the coming year among her clients, X2 , is assumed to follow a normal distribution with μ = $4000 and σ2 = 40,000. Assume that the claims amounts for a client are independent of one another. What percentage of her clients will have a total claims amount (X1+ X2) that is more than $5725 for the coming year? (Round the percentage to 2 decimal places.)
