A city has just added 80 new female recruits to its police force. The city will provide a pension to each newhire who remains with the force until retirement. In addition, if the new hire is married at the time of herretirement, a second pension will be provided for her husband. A consulting actuary makes the followingassumptions:(1) Each new recruit has a 0.37 probability of remaining with the police force until retirement.(ii) Given that a new recruit reaches retirement with the police force, the probability that she is not marriedat the time of retirement is 0.4.(iii) The number of pensions that the city will provide on behalf of each new hire is independent of thenumber of pensions it will provide on behalf of any other new hire.Determine the probability that the city will provide at most 54 pensions to the 80 new hires and theirhusbands. Enter your answer as a number accurate to 4 decimal places.

A city has just added 80 new female recruits to its police force. A consulting actuary makes the…

Answered: A city has just added 80 new female…

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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Assume that there is a 9% rate of disk drive failure in a year. a. If all your computer data is stored on a hard disk drive with a copy stored on a second hard disk drive, what is the probability that during a year, you can avoid catastrophe with at least one working drive? b. If copies of all your computer data are stored on four independent hard disk drives, what is the probability that during a year, you can avoid catastrophe with at least one working drive? a. With two hard disk drives, the probability that catastrophe can be avoided is (Round to four decimal places as needed.)
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.)
A city has just added 95 new female recruits to its police force. The city will provide a pension to each new hire who remains with the force until retirement. In addition, if the new hire is married at the time of her retirement, a second pension will be provided for her husband. A consulting actuary makes the following assumptions:(i) Each new recruit has a 0.4 probability of remaining with the police force until retirement.(ii) Given that a new recruit reaches retirement with the police force, the probability that she is not married at the time of retirement is 0.38.(iii) The number of pensions that the city will provide on behalf of each new hire is independent of the number of pensions it will provide on behalf of any other new hire.Determine the probability that the city will provide at most 69 pensions to the 95 new hires and their husbands. Enter your answer as a number accurate to 4 decimal places.
A company prices its tornado insurance using the following assumptions:• In any calendar year, there can be at most one tornado.• In any calendar year, the probability of a tornado is 0.05.• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 20-year period.
A company prices its tornado insurance using the following assumptions:• In any calendar year, there can be at most one tornado.• In any calendar year, the probability of a tornado is 0.08.• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 22-year period.
A company prices its tornado insurance using the following assumptions: • In any calendar year, there can be at most one tornado. • In any calendar year, the probability of a tornado is 0.07. • The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the company's assumptions, calculate the probability that there are fewer than 2 tornadoes in 15-year
A company sends its products from 3 warehouses, namely from warehouse A=30%, warehouseB=20% and from warehouse C=50%. Based on complaints from customers, it is known thatthe percentage of defective products sent from each warehouse is as follows: A=3% , B= 5% and from warehouse C= 2%.a. Suppose a customer after ordering the product, the next dayComplained that the item was defective. What is the probability that the product receivedthe customer is from warehouse C? b. If another customer who also orders the product and getsthe goods are in good condition, what is the probability that the product received by the customerdoes it come from warehouse A?
A company prices its tornado insurance using the following assumptions:• In any calendar year, there can be at most one tornado.• In any calendar year, the probability of a tornado is 0.08.• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 21-year period.
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.
According to the Center for Disease Control and Prevention (CDC), up to 20% of Americans contract the influenza virus each year, and approximately 3% of all births in the United States result in birth defects each year. Consider two randomly selected Americans and assume that these two randomly selected Americans are independent of each other. The probability that neither of these two randomly selected Americans will contract the influenza virus in a given year is
A cell phone company collects the following data for a month on their customers:The company plans to build a cell phone tower at any one of the areas. It is based on the probability of a customer available in a particular area in the month.Which area will they choose to build the tower?

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