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5) USA Today reported that approximately 25% of all state prison inmates released on parole become repeat offenders while on parole. Suppose the parole board is examining five prisoners up for parole. Let x = number of prisoners out of five on parole who become repeat offenders. X P(x) 0 0.237 1 0.396 2 0.264 3 0.088 4 0.015 5 0.001 a) Find the probability that one or more of the five parolees will be repeat offenders. How does this number relate to the probability that none of the parolees will be repeat offenders? b) Find the probability that two or more of the five parolees will be repeat offenders. d) Compute μ, the expected number of repeat offenders out of five. c) Find the probability that four or more of the five parolees will be repeat offenders.

5) USA Today reported that approximately 25% of all state prison inmates released on parole become repeat offenders while on parole. Suppose the parole board is examining five prisoners up for parole. Let x = number of prisoners out of five on parole who become repeat offenders. X P(x) 0 0.237 1 0.396 2 0.264 3 0.088 4 0.015 5 0.001 a) Find the probability that one or more of the five parolees will be repeat offenders. How does this number relate to the probability that none of the parolees will be repeat offenders? b) Find the probability that two or more of the five parolees will be repeat offenders. d) Compute μ, the expected number of repeat offenders out of five. c) Find the probability that four or more of the five parolees will be repeat offenders.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Awnsers + how to get the awnser the questions are coming from a book i bought to review my statistics I just want to know how to do them

6) Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until she is 65. The policy will expire on her 65th birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th edition). x = age P(death at this age) 60 0.00756 61 0.00825 d) Comp gene Sara is applying to Big Rock Insurance Company for her term insurance policy. 62 0.00896 a) What is the probability that Sara will die in her 60th year? Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance? erobnotto toqet ad lliw geoloog syn the expected 63 0.00965 b) Repeat part (a) for years 61, 62, 63, and 64. What would be the total expected cost to Big Rock Insurance over the years 60 through 64? (Find the total of the values from part a and all of part b!) ovillo juo mobot 64 0.01035 b c) If Big Rock Insurance wants to make a profit of $700 above the expected total cost paid out for Sara's death, how much should it charge for the policy? d) If Big Rock Insurance Company charges $5000 for the policy, how much profit does the company expect to make? JJJJ
Transcribed Image Text:6) Sara is a 60-year-old Anglo female in reasonably good health. She wants to take out a $50,000 term (i.e., straight death benefit) life insurance policy until she is 65. The policy will expire on her 65th birthday. The probability of death in a given year is provided by the Vital Statistics Section of the Statistical Abstract of the United States (116th edition). x = age P(death at this age) 60 0.00756 61 0.00825 d) Comp gene Sara is applying to Big Rock Insurance Company for her term insurance policy. 62 0.00896 a) What is the probability that Sara will die in her 60th year? Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance? erobnotto toqet ad lliw geoloog syn the expected 63 0.00965 b) Repeat part (a) for years 61, 62, 63, and 64. What would be the total expected cost to Big Rock Insurance over the years 60 through 64? (Find the total of the values from part a and all of part b!) ovillo juo mobot 64 0.01035 b c) If Big Rock Insurance wants to make a profit of $700 above the expected total cost paid out for Sara's death, how much should it charge for the policy? d) If Big Rock Insurance Company charges $5000 for the policy, how much profit does the company expect to make? JJJJ
5) USA Today reported that approximately 25% of all state prison inmates released on parole become repeat offenders while on parole. Suppose the parole board is examining five prisoners up for parole. Let x = number of prisoners out of five on parole who become repeat offenders. X P(x) 0 0.237 1 0.396 2 0.264 3 0.088 4 0.015 a) Find the probability that one or more of the five parolees will be repeat offenders. 1 5 0.001 How does this number relate to the probability that none of the parolees will be repeat offenders? 20 b) Find the probability that two or more of the five parolees will be repeat offenders. d) Compute μ, the expected number of repeat offenders out of five. c) Find the probability that four or more of the five parolees will be repeat offenders.
Transcribed Image Text:5) USA Today reported that approximately 25% of all state prison inmates released on parole become repeat offenders while on parole. Suppose the parole board is examining five prisoners up for parole. Let x = number of prisoners out of five on parole who become repeat offenders. X P(x) 0 0.237 1 0.396 2 0.264 3 0.088 4 0.015 a) Find the probability that one or more of the five parolees will be repeat offenders. 1 5 0.001 How does this number relate to the probability that none of the parolees will be repeat offenders? 20 b) Find the probability that two or more of the five parolees will be repeat offenders. d) Compute μ, the expected number of repeat offenders out of five. c) Find the probability that four or more of the five parolees will be repeat offenders.
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