10 Life insurance policies in a sample of 200 taken out of 50,000 were found to be insured for less than $5000. How many policies can be reasonably expected to be insured for less than $5000 in the whole lot at 95 per cent confidence level?

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 7E: List the sample space of each experiment. Selecting a letter of the alphabet
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10 Life insurance policies in a sample
of 200 taken out of 50,000 were found
to be insured for less than
$5000.
How many policies can be reasonably
expected to be insured for less than
$5000 in the whole lot
at 95 per cent confidence level?
Transcribed Image Text:10 Life insurance policies in a sample of 200 taken out of 50,000 were found to be insured for less than $5000. How many policies can be reasonably expected to be insured for less than $5000 in the whole lot at 95 per cent confidence level?
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