A department store that bills its charge-account cus-tomers once a month has found that if a customer pays promptly one month, the probability is 0.90 that he orshe will also pay promptly the next month; however, if a customer does not pay promptly one month, the prob-ability that he or she will pay promptly the next month is only 0.40. (Assume that the probability of paying or notpaying on any given month depends only on the outcomeof the previous month.)(a) What is the probability that a customer who payspromptly one month will also pay promptly the nextthree months?(b) What is the probability that a customer who does notpay promptly one month will also not pay promptly thenext two months and then make a prompt payment themonth after that?

Q: Suppose a life insurance company sells $190,000 one year term life insurance policy to a 25 year old…

A: The question is about expected value.Given :Amount of life insurance = $190000Cost of buying…

Q: If a researcher wants to estimate the proportion of customers of a coffee shop that favor the new…

A: Given data: Margin of error ( E) = 0.08 Population proportion = 0.75 Confidence level = 0.95 To find…

Q: what would be the z-score?

A: here given p = population proportion of Americans have experienced times when they haven't been able…

Q: Suppose you want to start a new campaign to raise funds for a local non-profit organization in your…

A: Given : Number of household = 25000

Q: certain mite lives in a island. a biologist is studying the mite population on the island. previous…

A:

Q: The​ three-year recidivism rate of parolees in a certain state is about 20​%; that​ is, 20​% of…

A:

Q: Salespersons often make repeat calls to "close" a sale. Suppose a particular salesperson has a 0.70…

A: Probability of closing on first call=0.70Probability decreases by 0.10 on each subsequent call.

Q: Murphy owns a coffee shop. Celia lives near this coffee shop. Assume the following to be true. If…

A: Consider the provided question, In order to check whether Celia patronizes Otto’s coffee shop on…

Q: An insurance company prices its Tornado Insurance using the following assumptions: • In any calendar…

A: 0.9347Explanation:According to the Insurance company's assumptions, the occurrence of tornadoes in a…

Q: the company figures that the probability of the house being burned down by fire is 0.005, what will…

A: Given that an insurance company insures a house worth P4,500,000 for an annual premium of P25,000.

Q: Your company issues flight insurance. You charge $17, and in the event of a plane crash, you will…

A: Given, The probability of a plane crashing on a single trip was 0.00000276. An insurance company…

Q: American League with a .364 batting average. To keep it simple, assume this means that every time he…

A: p = 0.364 n = 12

Q: If the probability that a certain tennis player will serve an ace is 1/4, what is the probability…

A: Solution-: Given: n=8 and p=0.25 (The probability that a certain tennis player will serve an ace is…

Q: Find the empirical probability that the next person who visits the doctor will leave with a…

A: Here given Five people out of every fifteen people who visit the doctor will leave with a…

Q: The probability that a 28-year old male in the US will die within one year is approximately 0.001…

A: Given information:Probability that a 28-year old male in the US will die within one year is…

Q: Given that a person has a positive test, find the probability that this person actually has cancer.​

A: Assume that a type of cancer has a 1% prevalence rate, meaning that 1% of the population has this…

Q: A man wishes to purchase a life insurance policy that will pay the beneficiary $25,000 in the event…

A: It is given that he will live another year is 0.92 and the amount of gain is 25,000.

Q: A toll-free phone number is available from 9 a.m. to 9 p.m. for your customers to register…

A: Here we want to calculate the probability of receiving three or more phone calls during the…

Q: A recent survey found that the probability that a student at a particular educational institution is…

A: Solution: From the given information,

Q: Thirty percent of all telephones of a certain type are submitted for service while under warranty.…

A: Givenpercentage of telephones are submitted for service =30%percentage of telephones can replaced…

Q: Suppose that 80% of drivers are "careful" and 20% are "reckless." Suppose further that a careful…

A:

Q: Cast Iron Company, on each nondelinquent sale, receives revenues with a present value of $1,280 and…

A:

Q: (a) What is the probability that an adult visited a therapist during the past year, given that he or…

A:

Q: Suppose a life insurance company sells a $120,000 one-year term life insurance policy to a…

A: Given P=0.999356 q=1-p     =1-0.999356     =0.000644

Q: USE 3 DECIMAL A financial analyst wants to understand the preference of the people investment…

A: Null and alternative hypotheses : Where, p1 is the proportion of people in 2010 who prefer to…

Q: Thirty percent of all telephones of a certain type are submitted for service while under warranty.…

A: Suppose a random variable x, defines that the number of telephones will end up being replaced under…

Q: The probability that a regularly scheduled flight departs on time is 0.85; the probability that it…

A:

Q: A company prices its tornado insurance using the following assumptions: any calendar • In any…

A:

Q: The probability of a successful merger with a larger firm is 0.6. Given that a merger is successful…

A: The probability of a successful merger with a larger firm is 0.6.

Q: A recent survey found that the probability that a student at a particular educational institution is…

A: Given, P (Bcom) = 0.80 P (Female and Bcom) = 0.20       To find, P (Female | Bcom) = ?

Q: Suppose a county’s recent health report gives a pet allergy prevalence of 0.15 for kids. There is a…

A: Given data, P(Positive | Not have allergy)=0.07 P(Not have allergy)=1-0.15=0.85 P(Negative |…

Q: can be at most one tornado. • In any calendar year, the probability of a tornado is 0.07. • The…

A: The probability distribution known as the binomial distribution is used to estimate the possibility…

Q: If the probability that a certain tennis player will serve an ace is  1/3  ,  what is the…

A: Use Binomial probability distribution.

Q: new oil filter is needed, what is the probability that the oil has to be changed?

A: Here use venn diagram

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.