Professors at a Local University Earn an Average Salary of $80,000

question 81

Multiple Choice

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000.Using Chebyshev's inequality,the percentage of salaries falling between $68,000 and $92,000 is at least __________.

• A) 65%
• B) 68%
• C) 75%
• D) 95%

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Definitions:

Reinsure

A practice where an insurance company transfers a portion of potential risk to another insurer to reduce its overall liability.

Insurance Premium

The amount paid periodically to an insurance company by the policyholder for covering their risk.

Raw Land

Undeveloped land without any buildings or improvements, often considered as a real estate investment opportunity.

Proportionate Price

A price or value that has been adjusted based on a certain proportion or percentage of a whole.