Claim sizes for a population follow a distribution with hazard rate Λ, where Λ varies by individual. The distribution of Λ is a gamma distribution with α = 2 and θ = 0.001. Calculate the median claim size over the entire population.
Claim sizes for a population follow a distribution with hazard rate Λ, where Λ varies by...
Claim sizes for a population follow a distribution with hazard rate A, where varies by individual. The 5. distribution of Л is a gamma distribution with 2 and 0.001. Calculate the median claim size over the entire population
3. X is the random variable for claim sizes. Given A, X follow a single-parameter Pareto distribution with parameters θ 1000 and A. The distribution of A over the entire population is an exponential distribution with mean 3 Calculate Pr(X> 1500)
2. You are given the following: • Claim sizes follow a normal distribution with mean u and variance o2 = 47,300. The hypotheses are: • H, := 10000, • Haip < 10000 • One claim of 9.600 is observed. Determine the test result. Show me the computation process. • Reject H, at the 0.01 significance level. • Reject H, at the 0.02 significance level, but not at the 0.01 level. • Reject H, at the 0.05 significance level, but not...
Suppose that you wish to test a claim about a population mean. Which distribution should be used given that the sample is a simple random sample, σ is not known, n = 15 and the population is normally distributed? The z-distribution The t-distribution The Chi-Square Distribution The F-distribution A hypothesis in statistics is a claim or a statement about a sample statistic population parameter legitimate inheritance weather conditions A market researcher selects every 40th student from a group of 500...
A random sample of size 12 is taken from a population, and for each individual in the sample measurements on two variables (X and Y) are obtained. The sample correlation of X and Y is calculated to be r2=0.549081. Carry out a hypothesis test on H0:ρ=0against HA:ρ≠0. If the null hypothesis is true, then the test statistic will follow a t distribution with what degrees of freedom? Number Calculate the value of the test statistic t using the appropriate formula....
2. Comparing two population means (known sigmas) Aa Aa Consider a pool of home mortgages. Prepayments of mortgages in the pool affect the mortgages' cash flow, so mortgage lenders, servicers, and investors all have an interest in predicting mortgage prepayments. Mortgages may be prepaid for a variety of purposes, including selling the home, taking cash out of the property to fund home improvements or other consumer expenditures, or refinancing the mortgage to change the monthly payment schedule. Narrow your focus...
Population growth problems BIDE model: No.1 N, +(B + 1) - ( D Rates: b = B/N; d = D/N: E) Net growth rate: R = b-d Exponential growth (discrete): N, NR* where R = 1+b-d Intrinsic rate of increase: r = InR Exponential growth (continuous): N:Noe -or-dN/dt = IN Logistic growth 1. Suppose a species of fish in a lake is modeled by a logistic population model with relative growth rate ofr 0.3 per year and carrying capacity of...
The Census Bureau groups data on households into census tracts,
where each census tract has a total population of about 4,000
residents. Census tracts should be divided so that the households
in the census tracts share certain characteristics, such as
economic status. Even though most tracts are around 4,000
residents, there is some variability, which is the focus of this
lab. In practice, census tracts usually have a population between
1,200 and 8,000 people.
I just need help with the...
Concept 8. When calculating a 95% confidence interval for a population mean, which is the most important situation where use of the t distribution would be better than use of the normal distribution? Write the letter for the best choice. A. When the sample size is small. B. when the population standard deviation is unknown. C. when the sample standard deviation is unknown. D. When the population standard deviation is known. E. When the sample size is large. For 9...
find answer of question 8 that is follow question 5
5. According to an official statement released by the state of California, the average height of a Redwood tree in California is 350 ft. To assess this claim, a scientist collects a sample of 50 randomly chosen Redwood trees in California. She finds that the average heights in her sample is 355 ft. We assume it is known that the population standard deviation is 42 ft. (a) Conduct a hypothesis...