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Dima020 [189]
3 years ago
5

Find the mean and standard deviation. Show all work. 1. X 0 1 2 3 4 P(x) .07 .38 .22 .13

Mathematics
1 answer:
Paraphin [41]3 years ago
7 0

Answer:

Mean = 2.14

Standard deviation = 2.40

Step-by-step explanation:

The calculation of mean and standard deviation is shown below:-

X = .07\times0 + 0.20\times 1 + 0.38\times 2 + 0.22\times 3 + 0.13\times 4\\\\ = 0 + 0.2 + 0.76 + 0.66 + 0.52

= 2.14

So, the mean is 2.14

Now, For computing the standard deviation first we need to find out the variance which is shown below:-

Variance is

Var(X) = P(X^2) - [P(X)]^2\\\\ P(X^2) = .07\times (0^2) + .20\times (0^1) + .38\times (0^2) + .22\times (0^3) +0.13\times (0^4)

After solving the above equation we will get

= 5.78

Now, the standard deviation is = \sqrt{Variance}

= \sqrt{5.78}

= 2.404163056

or

= 2.40

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Dad bought $200,000 of term life insurance at the rate of $5.40 per thousand-dollar unit. How much is the annual premium?
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Answer:

It is clear that the annual premium = $1080

Explanation:

Given:

As the total term amount for life insurance is given in the question which is $200,000

rate per $1000 unit = $5.40

<em><u>Simple Calculation Procedure to get the annual premium: </u></em>

First step:  

Let’s assume $1000 is one unit and the mentioned rate per $1000 unit is $5.40. Now, all you need is to find total number of $1000 units in total term insurance amount ($200,000).  

So,  

divide $200,000 by $1000 to establish the total number of  

1000 units in $200,000 = $200,000/$1000 = 200  

Second step:

As 200 is found to be the total number of $1000 units in $200,000.

So, just multiply 200 with $5.40 to ultimately find the annual premium

            i.e. $5.40 × 200 = $1080

Hence, it is clear that the annual premium = $1080

Keywords: life insurance, annual premium, premium term rate

Learn more about annual premium from brainly.com/question/13633924

#learnwithBrainly

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