1. An insurance policy sells for $500. Based on past data, an average of 1 in 50 policyholders will file a $5000 claim, an average of 1 in 100 policyholders will file a $10000 clam, and an average of 1 in 200 policyholders will file a $30,000 claim. A) Find the expected value (to the company) per policy sold. B) If the company sells 10,000 policies, what is the expected profit or loss? 2. When flipping a fair coin 4 times in a row, which outcome is more likely?3A. If you flip a coin 10 times and the coln lands on tails 3 out of 10 times, should you expect the coin is unfair? Explain. 3B. If you flip a coin 10,000 times and the coin lands on heads 3,000 out of 10,000 times, should you expect the coin is unfair? Explain.

Acell phone company offers two plans to its subscribers. at the time new subscribers sign up, they are asked to provide some demographic information. the mean yearly income for a sample of 40 subscribers to plan a is $45,000 with a standard deviation of $9,200. for a sample of 25 subscribers to plan b, the mean income is $64,300 with a standard deviation of $7,100. at the 0.025 significance level, is it reasonable to conclude the mean income of those selecting plan b is larger? assume unequal population standard deviations. hint: for the calculations, assume the plan a as the first sample. what is the decision rule? (negative amount should be indicated by a minus sign. round your answer to 3 decimal places.) compute the value of the test statistic. (negative amount should be indicated by a minus sign. round your answer to 2 decimal places.) what is your decision regarding h0 ? reject h0 fail to reject h0 compute the p-value. less than 0.01 between 0.01 and 0.025 between 0.025 and 0.05 between 0.05 and 0.10 greater than 0.10