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- There are three modes of transporting material from Boston to Houston: by land (either by highway or railway), seaor air. Half of the materials are transported by land20% by sea, and the rest by air. Also, 60% of all land transportation is by highway and the rest is by rail shipments.Cargo traveling by each mode of transportation has a different probability of being damaged during shipment. The percentages of damaged cargo are as follows: 12% by highway, 3% by rail, 5% by seaand 2% by airIf a damaged cargo is received, what is the probability that it was shipped by sea?C. An insurance company calculates car insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consists of drivers 22-33 years old, and Group C consists of drivers older than 33 years. Its portfolio consists of 10% Group A policyholders, 38% Group B policyholders and 52% Group C policyholders. The probability of a claim in any 12 month period for a policy belonging to Group A, B or C is 13%, 3% and 2%, respectively. (i) Calculate the probability that a randomly chosen policy holder from this portfolio will make a claim during a 12 month period. One of the company's policyholders has just made a claim (ii) Calculate the probability that the policy holder is younger than 22 years.An insurance policy costs $120 and will pay policyholders $9,000 if they suffer a major injury (resulting in hospitalization) or $3000 if they suffer a minor injury (resulting in lost time from work). The company estimates that 1 in every 2088 policyholders will suffer a major injury and that 1 in 504 will suffer a minor injury. a) Create a probability model for the profit on a policy. b) What's the company's expected profit on the policy? c) What's the standard deviation? a) First find the probability and profit for each outcome. P(event) Profit no injury major injury minor injury (Round to six decimal places as needed.)
- .................... ....... we......... DETAILS MY NOTES The mailing list of an agency that markets scuba-diving trips to the Florida Keys contains 78% males and 22% females. The agency calls 29 people chosen at random from its list. (a) What is the probability that 18 of the 29 people are men? (b) What is the probability that the first woman is reached on the 7th call? Submit Answer 3.given the following information: Bread Meat Cheese Honey Oat (0.6) Ham (0.5) American (0.6) White (0.4) Turkey (0.4) Cheddar (0.2) Salami (0.1) Provolone (0.2) How many possible sandwiches can be made? What is the probability that a sandwich will be Honey Oat Bread and Ham? What is the probability that a sandwich will have Turkey and American or Cheddar?An insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consistsof drivers 22—33 years old, and Group C consists of drivers older than 33 years.Its portfolio consists of 10% Group A policyholders, 38% Group B policyholdersand 52% Group C policyholders.The probability of a claim in any 12 month period for a policy belonging to GroupA, B or C is 13%, 3% and 2%, respectively.(i) Calculate the probability that a randomly chosen policy holder from thisportfolio will make a claim during a 12 month period. One of the company’s policyholders has just made a claim(ii) Calculate the probability that the policy holder is younger than 22 years.
- C. An insurance company calculates car insurance company calculates car insurance premiums based on the age of the policyholder according to three age groups: Group A consists of drivers younger than 22 years old; Group B consists of drivers 22-33 years old, and Group C consists of drivers older than 33 years. Its portfolio consists of 10% Group A policyholders, 38% Group B policyholders and 52% Group C policyholders. The probability of a claim in any 12 month period for a policy belonging to Group A, B or C is 13%, 3% and 2%, respectively. (i) Calculate the probability that a randomly chosen policy holder from this portfolio will make a claim during a 12 month period. One of the company's policyholders has just made a claim (ii) Calculate the probability that the policy holder is younger than 22 years.Course: StatisticsAn electronics retailer importing container from China has knowledge that 3% of the items in each container are out of order, if from the last container, the retailer chooses 20 products at random, find the probability that 4 of them are out of order. Select one:a. There is a 0.12%b. There is 0.002%.c. There is 0.2%.d. There is 3%.e. There is 1.2%.A conference began at noon with two parallel sessions. The session on portfolio management was attended by 40% of the delegates, while the session on chartism was attended by 50%. The evening session consisted of a talk titled “Is the Random Walk Dead?” This was attended by 80% of all delegates.a. If attendance at the portfolio management session and attendance at the chartism session are mutually exclusive, what is the probability that a randomly chosen delegate attended at least one of these sessions?b. If attendance at the portfolio management session and attendance at the evening session are statistically independent, what is the probability that a randomly chosen delegate attended at least one of these sessions?c. Of those attending the chartism session, 75% also attended the evening session. What is the probability that a randomly chosen delegate attended at least one of these two sessions?