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Two Problems on STATS




Question;A company;that sells annuities must base the annual payout on the probability;distribution of the length of life of the participants in the plan. Suppose the;probability distribution of the lifetimes of the participants is approx. a;normal distribution with a mean of 68 years and a standard deviation of 3.5;years. What proportion of the plan recipients would receive payments beyond age;75?;The;Diameter of Ball Bearings produced in a manufacturing process can be explained using;a uniform distribution over the interval 3.5 to 5.5 millimeters. Any ball;bearing with a diameter of 5 millimeters or under 4 millimeters is considered;defective. What proportion of the ball bearing produced are defective?


Paper#61958 | Written in 18-Jul-2015

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