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According to the Insurance Institute of America, a family of four-(Answered)

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Question

According to the Insurance Institute of America, a family of four spends between $400 and $3,800 per year on all types of insurance. Suppose the money spent is uniformly distributed between these amounts.


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a. What is the mean amount spent on insurance?
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??Mean $ ?


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b. What is the standard deviation of the amount spent? (Round your answer to 2 decimal places.)

 

Paper#9256159 | Written in 27-Jul-2016

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