Answer:
-34.63
Explanation:
Confidence interval = 1 - probability * 2
= 1 - 0.16 * 2
= 0.71
= 71%
As per 95% rule, range = mean + / -2 * standard deviation.
10.31 +/- 2 * 22.47
10.31 - 2 * 22.47 to 10.31 + 2 * 22.47
10.31 - 44.94 to 10.31 + 44.94
-34.63 to 55.25
Conclusion: -34.63 is the lower bound hence it is the maximum one can expect to lose in any given year.
When the most you should anticipate losing in any given year with a probability of 16 percent is -34.63
Then Confidence interval is = 1 - probability * 2
After that = 1 - 0.16 * 2
Now, = 0.71
= 71%
As per 95% rule, range is = mean + / -2 * standard deviation.
Then, 10.31 +/- 2 * 22.47
After that, 10.31 - 2 * 22.47 to 10.31 + 2 * 22.47
Then, 10.31 - 44.94 to 10.31 + 44.94
Therefore, -34.63 to 55.25
Now, The Conclusion: -34.63 is the lower bound Thus, it is the maximum one can expect to lose in any given year.
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