Question

Individual claim sizes may be modeled by a uniform distribution function on the interval [$1000, $5000]....

Individual claim sizes may be modeled by a uniform distribution function on the interval [$1000, $5000]. Eighty claims are examined. Assume claims are independent.

What is the approximate probability that total claims will be between $250,000 and $300,000?

a) 17%

b) 34%

c) 50%

d) 84%

e) 97%

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