QNM222 Assignment#2 Question 1 A recent survey reported in BusinessWeek concerned the salaries of CEOs at large corporations, and whether company...

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a) Find the mean number of accidents in a month.

b) Calculate the variance in the number of accidents in a month.

c) Determine the standard deviation.

Question 6

An investment firm's survey found 30% of individual investors have used a discount broker. In a random sample of nine individuals,

a) Use the Binomial Formula to calculate the probability that none of the investors have used a discount broker.

b) Use the Binomial Formula to calculate the probability that exactly two of the investors have used a discount broker.

c) Determine the probability that at least one have used a discount broker.

d) Find the expected number of investors that have used a discount broker.

e) Calculate the variance of the number of investors that have used a discount broker.

f) Determine the standard deviation.

Question 7

Shaver Manufacturing Inc. offers dental insurance to its employees. A recent study by the human resource director shows the annual cost per employee per year followed the normal distribution with a mean of $1280 and a standard deviation of $420 per year.

a) What is the probability that the employees' dental expenses will be between $1280 and $1500?

b) What is the probability that the employees' dental expenses will be more than $1500 per year?

c) What is the probability that the employees' dental expenses will be between $1500 and $2000 per year?

d) What is the probability that the employees' dental expenses will be less than $450 per year?

e) What is the probability that the employees' dental expenses will be less than $1500 per year?

f) What was the minimum cost for the 10% of employees that incurred the highest dental expense?