14.By examining the past driving records of city drivers, an insurance company has determined thefollowing probabilities.Miles Driven per YearLess than 10,00010,000-15,000,inclusiveMore than 15,000.TotalM1M3M2Accident0.050.10.150.3No Accident 0.150.20.350.7Total0.20.30.51.0Use the probabilities table to find the probability that a city driver selected at random drives morethan 15,000 miles per year or has an accident.0.650.80.30.15

Answered: Image /qna-images/answer/b7c84dae-0553-464b-b118-3decf0bc90b0.jpg

Answered: 14.By examining the past driving…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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1. Based on the table that is attached below, what is the probability that a randomly selected man resident is a smoker? 0.571 0.70 0.40 0.90
2
2. Statistical measures of stand-alone risk Remember, the expected value of a probability distribution is a statistical measure of the average (mean) value expected to occur during a possible circumstances. To compute an asset's expected return under a range of possible circumstances (or states of nature), multiply the anticipated return expected to result during each state of nature by its probability of occurrence. Consider the following case: Ethan owns a two-stock portfolio that invests in Happy Dog Soap Company (HDS) and Black Sheep Broadcasting (BSB). Three- quarters of Ethan's portfolio value consists of HDS's shares, and the balance consists of BSB's shares. Each stock's expected return for the next year will depend on forecasted market conditions. The expected returns from the stocks in different market conditions are detailed in the following table: Market Condition Probability of Occurrence Happy Dog Soap Black Sheep Broadcasting Strong 0.50 50% 70% Normal 0.25 30% 40% Weak…
3. What would be the yearly premium for a $50,000 insurance policy against accidental household flood if the likelihood of an accidental household flood is estimated to be 0.005 and the company wishes to have a yearly expected gain of $2000? a. $2, 250. b. $2,550. c. $2,500. d. $2,520. 4. A manufacturer of electronic equipment buys spare parts for replacement and repairs in lots of one-thousand from the supplier. The manufacturer uses these spare parts to fix items under warrantee. Past historical records show that the probability of any one spare part being defective is unlikely and assumed to be one in one-thousand. In a shipment of one-thousand spare parts the probability of two defectives is a. 0.148. b. 0.184. c. 0.366. d. 0.386. 5. What is the probability of getting exactly three heads in five flips of a balance coin? a. 5/16 b. 3/16 c. 7/16 d. 9/16
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8. The criteria for ideally insurable losses include all of the following EXCEPT: a. Accidental or unintentional Losses. C. A small carefully defined group of exposures. d. A large number of risk exposures. e. low probability of catastrophic loss.
12. Calculate the expected life of refrigerators at the age of 7 using the following data. Age: up 2 2-4 4-6 6–8 8-10 10-12 16 13 7 5 4 Girls:
At Oriole Company, events and transactions during 2020 included the following. The tax rate for all items is 40%.(1) Depreciation for 2018 was found to be understated by $ 151000.(2) A strike by the employees of a supplier resulted in a loss of $ 125100.(3) The inventory at December 31, 2018 was overstated by $ 201000.The effect of these events and transactions on 2020 income from continuing operations net of tax would be
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5.Approximately 64% of the people murdered actually knew their murderer. Given 63 current unsolved murders, what is the probability that at least (equal to and more than) 35 victims knew their murderer?
ogle.com/d/1NGOHXPHTvH8PLnxmRZFacGXUv00o4rY1EStn8YtOx41/viewer?f%=3 ch Media services/El.. EWhat's Going On in... G Bases housing U.S.. Digital Passport by.. hment 2 - 1.3 + 1.4 419 ackground Clear frame 1.3 2) How many 4 letter permutations can be formed from the letters in word rhombus? 3) A board of directors composed of eight people must select board officers. In how man president, vice president, and treasurer be selected from this 8-person board?
12. A survey conducted discovered that 63% of all Americans are overweight. Suppose that a number of randomly selected Americans are weighed. The following table may (or may not) be useful: k 0 1 2 3 4 1 4 6 4 1 4Ck (a) Find the probability that the 4th person weighed is the first person to be overweight. (b) Find the probability that it takes less than 4 people to observe the first overweight person. (c) Find the expected value and variance of the number of Americans that would have to be weighed in order to find the first person that was overweight.

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