A customer for a home insurance policy owns a $200,000 home. The probability is 0.1% that the home will be totally destroyed by fire, and the probability is 0.5% that the home will suffer a 50% loss due to fire. Ignoring all other partial losses, the insurance company is interested in determining what premium it should charge for a policy just to break even? Let ? = ?ℎ? ?????? ?? ???????????? ???? ?? ?ℎ? ????????. Calculate the premium that the insurance company should charge for a policy to break even. Hint: use the probability distribution table you made to find the sample space of the r.v. X

Q: Suppose that you and a friend are playing cards and decide to make a bet. If your friend draws two…

A: There are 52 cards in the standard deck of cards. There are 13 spade cards in the standard deck of…

Q: The odds of losing is the ratio of the number of unsuccessful outcomes to the number of successful…

A: Given:The odds of event occurring is 1:2.Thus, it implies:Number of events will occur=1Number of…

Q: If a+b+c is equal to 22, what is the probability that a is less than b, and b is less than c?a, b,…

A: If the sum of the three Natural numbers a, b and c is n, then the total number of combinations of…

Q: Some people claim they can get relief from migraine headache pain by drinking a large glass of ice…

A: Response Variable A variable which measures the result or outcome of the study is known as Response…

Q: In gambling, the chances of winning are often written in terms of odds rather than probabilities.…

A: Given information Odds of an event occurring is 4:6 a) Probability that the event will occur is…

Q: Suppose an oil company is thinking of buying some land for $11,000,000. There is a 60% chance of…

A: Given: Value of land = $11,000,000 P (economic growth) = 0.60 P (recession) = 0.40 P (discovering…

Q: (a) Find the probability of the union between (getting the the flu) and (getting the flu shot). (b)…

A: Let A be the event that gets the flu. Let B be the event that gets a flu shot. P(A) = 0.2  P(B) =…

Q: Use the above data to prepare a frequency distribution table with 8 classes. Find the measures of…

A: The given data are below94911551417343410021807522361941163558698282812572142319838462219872302595…

Q: If the probability of Ali and Hamad winning in a competition is 0.37 and the probability of losing…

A: It is given that the   probability of Ali and Hamad winning in a competition is 0.37 i.e. P(Ali and…

Q: If the odds for a certain event are 25 to 27, what is the probability of the event occuring? Write…

A: Odds against = P(against)/P(favor) total number of occurrences = 25+27 = 52 P(event occurring) = ?

Q: The lacrosse team has a 55% chance of winning its upcoming games. Find the probability of them…

A:

Q: If the odds in favor of winning a bet are 3:33, what is the probability of winning the bet? Write…

A: Given data:   The given odd in favor of winning a bet is O(E)=3:33.   The Depression for the odd in…

Q: If the probability that the Yankees will win a baseball game is 60%, find the probability that the…

A: The probability that Yankees will win a baseball game is 60%, that is PWinning=0.60.

Q: According to the National Health Statistics Reports, 16% of American women have one child, and 21%…

A: given data ,According to the National Health Statistics , 16% American woment have one childwomen…

Q: You pay $20 to enter a raffle.  The first ticket drawn wins $912, the second ticket drawn wins $481,…

A:

Q: Suppose that 44% of people have dogs. If two people are randomly chosen, what is the probability…

A: It is given that, 44% of people have dogs. It means, probability that a people have dogs= p = 0.44…

Q: e residents of a city rank the six cell phone companies in their area. What is the probability that…

A: The residents of a city rank the six cell phone companies in their area. P(Correct order)=?

Q: If the probability of a person losing on a scratch-off lottery ticket is 0.625, the odds of losing…

A: given data p(losing) = p = 0.625 ∴odds of losing =?

Q: Suppose an oil company is thinking of buying some land for $11,000,000. There is a 60% chance of…

A: Solution We can solve by the tree

Q: The winner of a raffle will receive a two-year scholarship to the college of his or her choice. If…

A:

Q: Find the probability of dealing two red cards from a standard deck of cards.

A: In a standard deck of cards, there are 52 cards in total out of which there are 26 red cards and 26…

Q: You pay $20 to enter a raffle.  The first ticket drawn wins $983, the second ticket drawn wins $474,…

A: The expectation of a discrete random variable X, denoted by E(X), is defined as a measure of central…

Q: Your favorite basketball player is a 90% free throw shooter. Find the probability (as a percent)…

A:

Q: If the probability of winning a race is 3/8 what are the odds in favor of wining the race. Answer in…

A: From the provided information, The probability of winning a race (p) = 3/8

Q: The actual cards “Will Bill” Hickok was holding when he was shot were the aces of spades and clubs,…

A: Introduction: A standard deck has 52 cards.

Q: You have a 30-sided dice. Your friend Hugo has three favorite numbers: 5, 3, and 10. What is the…

A: Given You have a 30-sided dice. Your friend Hugo has three favorite numbers: 5, 3, and 10.

Q: An appliance store sells additional warranties on its refrigerators. Twenty percent of the buyers…

A: We have given following information: of buyers buy the limited warranty for . of buyers buy the…

Q: Suppose that 35% of people own dogs. If you pick two people at random; what is the percent that they…

A: Solution: From the given information, the probability of people own dog is 0.35. Here, two people…

Q: If the probability of a student taking a math class is 0.40, the probability of taking a physics…

A:

Q: On average, what are the odds

A: You are a Product Manager for Hockey Equipment working at an Internet-based sports equipment…

Q: You randomly select one card from a​ 52-card deck. Find the probability of selecting the king of…

A: It is known that Number of cards in a deck = 52 Number of king of diamonds = 1 Number of two of…