Answer to Question #182839 in Statistics and Probability for royston

Question

An insurance company rounds 50000 insurance premiums to the nearest dollar. Assuming that the fractional parts of the premiums are continuous and uniformly distributed between 0 and 1, compute the probability that the total amount owing will be altered by more than $60.

You may use R to assist you in answering this question, but you would need to list out all working details.

Answer 1

Dear royston, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order