Can anyone good in business statistics please helpme find the answer to my homework?

[friendlydays]

It's one of the questions in my business statistics homework. i'm not so good in statistics, i swear i've spent many hours figuring out the answer to this question but i cannot come up with one. Can somebody who's good in business statistics please kindly anwser the question for me? Also please show the mathematical solution?

here it is:

The American Council of Life Insurance and the Life Insurance Marketing and Research Association have reported that insured households with heads 35 to 44 years old had an average of $95,900 of life insurance coverage. Assuming a normal distribution and a standard deviation of $25,000, what's the probability that a randomly selected household with a head in this age group had less than $70,000 in life insurance coverage?


Thanks very much.

[Bianca81]

not a clue dude!!!

[kanzaki]

Z =

= X - (mean)
-----------
SD

= 70,000 - 95,900
-----------------
25000

= -1.036

Z < -1.036

Therefore Z > 1.036 (rounded to 1.04)

P (X < 70,000)
= P (Z > 1.04)
= 1 - 0.8508
= 0.1492

done!

n btw, thanx my bf for this.

p/s : double check.

oh, how old r u??

[friendlydays]

Z =

= X - (mean)
-----------
SD

= 70,000 - 95,900
-----------------
25000

= -1.036

Z < -1.036

Therefore Z > 1.036 (rounded to 1.04)

P (X < 70,000)
= P (Z > 1.04)
= 1 - 0.8508
= 0.1492

done!

n btw, thanx my bf for this.

p/s : double check.

oh, how old r u??

DAMN!!! I thought I'll never get an answer from anyone! Just in time before i pass my homework! Hmm...Thx alot to you Kanzaki and to your smart BF for the time and kindness in answering my statistics questions.You've done a stranger in desperate need a great help! LOL. I was lazy in studying my business statistics book and I was very busy with 2 jobs at the same time so now I am cramming in finding the solution to my homework. Funny how you can get solutions in your homework from the internet! haha

btw, i'm 20. gotta go i have loads of work to do. atleast my homework is done now. thanks again, Kanzaki.

[Illusional]

yeah i'm just surprized that anyone actually bothering reading your problem.. when i hear the word hw, my mind goes blank.

raverboy

[kanzaki]

actually its ok. ur lucky that i call my bf up and ask him. N strangely enough that he is interested in helping! O__O So in another sense, ur VERY lucky.

plus, he is having exam, 2nd year of college at 18. Pity him

so.....that's y.

ur welcome baby. Repay me by having sex

[Illusional]

alright you have a bf and you want sex from a total stranger?? i think that you're becomming known as a slut around the forums...

raverboy

[friendlydays]

actually its ok. ur lucky that i call my bf up and ask him. N strangely enough that he is interested in helping! O__O So in another sense, ur VERY lucky.

plus, he is having exam, 2nd year of college at 18. Pity him

so.....that's y.

ur welcome baby. Repay me by having sex

umm yeah, i'm VERY lucky!
i already passed my assigment... the answer you gave was right. so i got 7 right answers out of 10 questions.

so your bf is having exam huh? well i hope he get lucky and pass his exam too... haha

hmmm.... repay you by having sex??? so that means i get lucky TWICE?! haha

[sleepy]

i think she's the welcome wagon; it's sweet, and very strange. who could turn down a little fluffy kitten?

[Illusional]

hi...welcome to the fourms.. btw, as you enter through the door, would you like to have sex with me..

sleepy, do you mean somewhere along those lines??

raverboy

[sleepy]

yes - sex could be offered as a bonus for signing up...you could have a button for it:

name:
email:
would you like the preferred kanzaki package?:

[Illusional]

haha.. wait, we could actually make money off of this and promote the site... whooo whoo... kanazaki, would you like to be out nominated sales representative??

raverboy

[kanzaki]

hahahaha LOL

well, my bf was browsing throught this thread and man, he is MAD! Usually he would not look at the love forum but he was curious bout the answers. Thats y

friend >> anyway, ur welcome. He was glad to help. I am now monitoring him studying. He is havin exam on monday

sleepy >> oh well. Miow??

illusional n sleepy >> apparently i have limit to WHO i am having sex with XP But dun mind me but sometime it may not b sex. It could b torture too....mwahahahaha!

illusional >> me the sales representative? make me the mod first then we will think bout it XP

[Illusional]

why would i make you a mod if i'm asking you to be a sales representative.. you have to bring money to the forums before anything will happen. however i can be bribed. as for XP..?? what is that supposed to mean?

raverboy