A company that sells annuities must base the annual payout on the probability distribution of the length of life of the participants in the plan. Suppose the probability distribution of the lifetimes of the participants is approx. a normal distribution with a mean of 68 years and a standard deviation of 3.5 years. What proportion of the plan recipients would receive payments beyond age 75?The Diameter of Ball Bearings produced in a manufacturing process can be explained using a uniform distribution over the interval 3.5 to 5.5 millimeters. Any ball bearing with a diameter of 5 millimeters or under 4 millimeters is considered defective. What proportion of the ball bearing produced are defective?
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