AMA470 Midterm exam March 5‚ 2010 Please show full working out in order to obtain full marks. 1. Suppose that: • The number of claims per exposure period follows a Poisson distribution with mean λ = 110. • The size of each claim follows a lognormal distribution with parameters µ and σ 2 = 4. • The number of claims and claim sizes are independent. (a) Give two conditions for full credibility that can be completely determined by the information above. Make sure to define all terms in your definition
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HVDC Moyle‚ the Isle of Man and France HVDC Cross-Channel. The electrical energy generated for the National grid needs to be moved around all parts of the country to supply the demand. There are two methods available for the transmission and distribution of electric power and these are: * Underground Insulated Cables * Overhead Cables (Bare Conductors Suspended at a Safe Height Above Ground) The overhead lines are generally used for high-voltage long distance transmission‚ because the
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skewed-right distribution with a mean of 10 minutes and a standard deviation of 8 minutes. Suppose 100 flights have been randomly sampled. Describe the sampling distribution of the mean waiting time between when the airplane taxis away from the terminal until the flight takes off for these 100 flights. a) Distribution is skewed-right with mean = 10 minutes and standard error = 0.8 minutes. b) Distribution is skewed-right with mean = 10 minutes and standard error = 8 minutes. c) Distribution is approximately
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The Poisson probability distribution‚ named after the French mathematician Siméon-Denis. Poisson is another important probability distribution of a discrete random variable that has a large number of applications. Suppose a washing machine in a Laundromat breaks down an average of three times a month. We may want to find the probability of exactly two breakdowns during the next month. This is an example of a Poisson probability distribution problem. Each breakdown is called an occurrence in Poisson
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SPSS: Grouped Frequency Distribution FIRST STEP: Under the Transform menu‚ choose Visual Binning… This command assists you in creating a new variable that groups the data. You will then use the new variable to create a grouped frequency distribution. • From the Variables list box‚ click on wt (weight) and then on the arrow to move it to the Variable to Band list box. Click Continue. • Select wt in the left box. Near the top of this dialog box‚ enter a name for your new variable (such
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(10 points) 3. Suppose that a random sample of size 64 is to be selected from a population having [pic] and standard deviation 5. (a) What are the mean and standard deviation of the [pic] sampling distribution? Can we say that the shape of the distribution is approximately normal? Why or why not? (10 points) (b) What is the probability that [pic] will be within 0.5 of the population mean? (5 points) (c) What is the probability that [pic] will differ
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•H.P.Gautam The purpose of this article is not to explain any more the usefulness of normal distribution in decision-making process no matter whether in social sciences or in natural sciences. Nor is the purpose of making any discussions on the theory of how it can be derived. The only objective of writing this article is to acquaint the enthusiastic readers (specially students) with the simple procedure ( iterative procedure) for finding the numerical value of a normally distributed variable. The
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“dispersion” or variability of the data about the measurements of central tendency. MEASUREMENTS OF CENTRAL TENDENCY The appropriateness of using the mean‚ median‚ or mode in data analysis is dependent upon the nature of the data set and its distribution (normal vs non-normal). The mean (denoted by x) is calculated by dividing the sum of the individual data points (where Σ equals “sum of”) by the number of observations (denoted by n). It is the arithmetic average of the observations and is used
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Student Exploration: Sight vs. Sound Reactions Vocabulary: histogram‚ mean‚ normal distribution‚ range‚ standard deviation‚ stimulus Prior Knowledge Questions (Do these BEFORE using the Gizmo.) Most professional baseball pitchers can throw a fastball over 145 km/h (90 mph). This gives the batter less than half a second to read the pitch‚ decide whether to swing‚ and then try to hit the ball. No wonder hitting a baseball is considered one of the hardest things to do in sports! 1. What
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Study Set for Midterm II‚ Chapters 7 & 8 ESSAY. Write your answer in the space provided or on a separate sheet of paper. 1) The average score of all pro golfers for a particular course has a mean of 70 and a standard deviation of 3.0. Suppose 36 golfers played the course today. Find the probability that the average score of the 36 golfers exceeded 71. 2) At a computer manufacturing company‚ the actual size of computer chips is normally distributed with a mean of 1 centimeter
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