# The insurance company sees tha

Anonymous

Question description

The insurance company sees that in the entire population of homeowners, the mean loss from fire is μ = \$243 and the standard deviation of the loss is σ = \$282. The distribution of losses is strongly right-skewed: many policies have \$0 loss, but a few have large losses. If the company sells 10450 policies, what is the approximate probability that the average loss will be greater than \$255?

(Top Tutor) Studypool Tutor
School: Cornell University
Studypool has helped 1,244,100 students
flag Report DMCA

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors