Homework Answers
1. Yes, Life insurance coverage is influenced linearly by the Disposable Income.
Plotting the scatter plot with x axis -> Disposable income and y axis -> Life Insurance coverage.
We find the linear trend, i.e. with increasing disposable income, the life insurance coverage increase.
______________
If y is the amount in life insurance coverage and x is the disposable income, with the existing data through linear regression, we find.
y = 2.0392x - 37.288
which means, for every one unit (thousand $) increase in disposable income, the life insurance coverage increase by 2.0392 units (thousand $).
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2. An insurance company is interested in determining whether life insurance coverage is influenced linearly by...
An insurance company is interested in determining whether life insurance coverage is influenced linearly by disposable...
An insurance company is interested in determining whether life insurance coverage is influenced linearly by disposable income. A randomly chosen sample of size 20 produced the data shown in the table below. Construct a scatterplot with a trend line. What conclusions can you draw? Disposable Income ($ thousands) Life Insurance Coverage ($ thousands) 45 60 40 58 65 100 50 50 70 120 75 140 70 100 40 50 50 70 45 60 65 80 60 90 45 50 40...
Creative Corporation has four employees and provides group term life insurance coverage for all four employees....
Creative Corporation has four employees and provides group term life insurance coverage for all four employees. Coverage is nondiscriminatory and is as follows: (Click the icon to view the Uniform One-Month Group Term Premiums for $1,000 of Life Insurance Coverage.) (Click the icon to view the data.) Read the fequirements. Requirement a. How much may Creative Corporation deduct for group term life insurance premiums? The amount Creative Corporation can deduct for group term life insurance premiums is Requirement b. How...
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies....
Insurance companies track life expectancy information to assist in determining the cost of life insurance policies. Life expectancy is a statistical measure of average time a person is expected to live, based on a number of demographic factors. Mathematically, life expectancy is the mean number of years of life remaining at a given age, assuming age-specific mortality rates remain at their most recently measured levels. Last year the average life expectancy of all the Life Insurance policyholders in Ontario...
08: Assignment - Insuring Your Life 6. Understanding whole life insurance Suppose you are a life...
08: Assignment - Insuring Your Life 6. Understanding whole life insurance Suppose you are a life insurance broker with a client who is interested in buying a whole life insurance policy. You explain to him the three major types of whole life insurance: continuous premium, also known as limited payment, and single premium. Your client is a 33-year- old man and a father of four who is looking for the policy that provides the most permanent death protection for a...
Grace's employer is now offering group-term life insurance. The company will provide each employee with $120,000...
Grace's employer is now offering group-term life insurance. The company will provide each employee with $120,000 of group-term life insurance. It costs Grace's employer $680 to provide this amount of insurance to Grace each year. Assuming that Grace is 37 years old, use the table to determine the monthly premium that Grace must include in income as a result of receiving the group-term life benefit. EXHIBIT 12-08 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection 5-Year Age Bracket Cost...
Joe and Maggie have life insurance through their employers equal to two times their annual salaries,...
Joe
and Maggie have life insurance through their employers equal to two
times their annual salaries, joe, age 37, has an annual salary of
$56,000 and Maggie, age 34, has an annual salary of $59,000. the
annual cost of the group term insurance is $20 for each employee?
Table 1 Rates for Group Term Insurance:
5-year age bracket | Cost/$1,000 insurance for
1 month period
Under 25
$0.05
25 to 29
$0.06
30 to 34
$0.08
35 to 39
$0.09...
Can I get the solution for question 18? This is all . There is no more...
Can
I get the solution for question 18?
This is all . There is no more information.
16 y | 100 15. * 1-20 y | 100 95 91 -17 -15 120 118 83 -14 130 70 -10 140 Applications 17. Consumption and Disposable Income An economist wishes to estimate a line that relates personal consumption expenditures C and disposable income I. Both C and I are in thousands of dollars. She interviews eight heads of households for families of...
Nontaxable Fringe Benefits (LO.4) Dow, 42, is a manager for Winter Company. In addition to his...
Nontaxable Fringe Benefits (LO.4) Dow, 42, is a manager for Winter Company. In addition to his 2019 $81,000 salary, he receives the following benefits from Winter during the current year: • Winter pays all its employees' health and accident insurance Premium paid by Winter for Dow's health insurance are $1,300 • Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $81,000 in coverage are $810. • Winter has a flexible benefits...
Dow, 42, is a manager for Winter Company. In addition to his $82,000 salary, he receives...
Dow, 42, is a manager for Winter Company. In addition to his $82,000 salary, he receives the following benefits from Winter during the current year: . Winter pays all its employees' health and accident insurance. Premiums paid by Winter for Dow's health insurance are $1,200. Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $82,000 in coverage are $820. (See Table 4- 1 IRS Premium Table above) Winter has a flexible...
all of these pls D) In repeated sampling, 95% of the sample means will fall within the interval created. 4) A retired statistician was interested in determising the average cost of a $200,000.00 t...
all of these pls
D) In repeated sampling, 95% of the sample means will fall within the interval created. 4) A retired statistician was interested in determising the average cost of a $200,000.00 term lle insurance policy for a 60-year-old male non-smoker. He randomly sampled 63 subjects (60-year-old male non-smokers) and constructed the following 95 percent c mean cost of the term life insurance: ($850.00, $1050.00) State the appeopriate confidence interval for the interpretation for this term life insurance cost...
Creative Corporation has four employees and provides group term life insurance coverage for all four employees. Coverage is nondiscriminatory and is as follows: (Click the icon to view the Uniform One-Month Group Term Premiums for $1,000 of Life Insurance Coverage.) (Click the icon to view the data.) Read the fequirements. Requirement a. How much may Creative Corporation deduct for group term life insurance premiums? The amount Creative Corporation can deduct for group term life insurance premiums is Requirement b. How...
08: Assignment - Insuring Your Life 6. Understanding whole life insurance Suppose you are a life insurance broker with a client who is interested in buying a whole life insurance policy. You explain to him the three major types of whole life insurance: continuous premium, also known as limited payment, and single premium. Your client is a 33-year- old man and a father of four who is looking for the policy that provides the most permanent death protection for a...
Joe
and Maggie have life insurance through their employers equal to two
times their annual salaries, joe, age 37, has an annual salary of
$56,000 and Maggie, age 34, has an annual salary of $59,000. the
annual cost of the group term insurance is $20 for each employee?
Table 1 Rates for Group Term Insurance:
5-year age bracket | Cost/$1,000 insurance for
1 month period
Under 25
$0.05
25 to 29
$0.06
30 to 34
$0.08
35 to 39
$0.09...
Can
I get the solution for question 18?
This is all . There is no more information.
16 y | 100 15. * 1-20 y | 100 95 91 -17 -15 120 118 83 -14 130 70 -10 140 Applications 17. Consumption and Disposable Income An economist wishes to estimate a line that relates personal consumption expenditures C and disposable income I. Both C and I are in thousands of dollars. She interviews eight heads of households for families of...
Nontaxable Fringe Benefits (LO.4) Dow, 42, is a manager for Winter Company. In addition to his 2019 $81,000 salary, he receives the following benefits from Winter during the current year: • Winter pays all its employees' health and accident insurance Premium paid by Winter for Dow's health insurance are $1,300 • Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $81,000 in coverage are $810. • Winter has a flexible benefits...
Dow, 42, is a manager for Winter Company. In addition to his $82,000 salary, he receives the following benefits from Winter during the current year: . Winter pays all its employees' health and accident insurance. Premiums paid by Winter for Dow's health insurance are $1,200. Winter provides all employees with group term life insurance coverage equal to their annual salary. Premiums on Dow's $82,000 in coverage are $820. (See Table 4- 1 IRS Premium Table above) Winter has a flexible...
all of these pls
D) In repeated sampling, 95% of the sample means will fall within the interval created. 4) A retired statistician was interested in determising the average cost of a $200,000.00 term lle insurance policy for a 60-year-old male non-smoker. He randomly sampled 63 subjects (60-year-old male non-smokers) and constructed the following 95 percent c mean cost of the term life insurance: ($850.00, $1050.00) State the appeopriate confidence interval for the interpretation for this term life insurance cost...
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