A mortgage holding company has found that 0.09 of its mortgage holders default on theirmortgage and lose the property. Furthermore, 0.93 of those who default are late on at leasttwo monthly payments over the life of their mortgage as compared to 0.38 of those who do notdefault. What is the joint probability that a mortgagee has two or more late monthly paymentsand does not default on the mortgage?0.34580.03420.08370.8463

Step 1: Find the probability of having two or more late monthly payments given that the mortgagee…

Answered: A mortgage holding company has found…

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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The principle of redundancy is used when system reliability is improved through redundant or backup components. Assume that a student's alarm clock has a 19.1% daily failure rate. Complete parts (a) through (d) below. a. What is the probability that the student's alarm clock will not work on the morning of an important final exam? -(Round to three decimal places as needed.) b. If the student has two such alarm clocks, what is the probability that they both fail on the morning of an important final exam? -(Round to five decimal places as needed.) c. What is the probability of not being awakened if the student uses three independent alarm clocks? -(Round to five decimal places as needed.) d. Do the second and third alarm clocks result in greatly improved reliability? A.Yes, because you can always be certain that at least one alarm clock will work. B.No, because the malfunction of both is equally or more likely than the malfunction of one. C.Yes, because…
Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest to Moria. Based on past experience, the probability of surviving such a quest is 91.8%. If BIC charges a premium of 8,449 silver coins and would pay a death benefit of 87,797 silver coins if the insured were to die, what is the expected value of this insurance policy to BIC? Round to the nearest silver coin as needed. If the expected value is a loss to BIC, enter your answer as a negative number.
33% of a certain breed of rabbits are born with long hair. What is the probability that in a litter of 8 rabbits, exactly 1 will have long hair? (Give your answer correct to three decimal places.)
The television show Ghost Whistler has been successful for many years. That show recently had a share of 18, meaning that among the TV sets in use, 18% were tuned to Ghost Whistler. Assume that an advertiser wants to verify that 18% share value by conducting its own survey, and a pilot survey begins with 14 households have TV sets in use at the time of a Ghost Whistler broadcast.Find the probability that none of the households are tuned to Ghost Whistler.P(none) = Find the probability that at least one household is tuned to Ghost Whistler.P(at least one) = Find the probability that at most one household is tuned to Ghost Whistler.P(at most one) = If at most one household is tuned to Ghost Whistler, does it appear that the 18% share value is wrong? (Hint: Is the occurrence of at most one household tuned to Ghost Whistler unusual?)
During one year, a particular mutual fund outperformed the S&P 500 index 32 out of 52 weeks. Find the probability that it would perform as well or better again. The probability is (Round to four decimal places as needed.)
The principle of redundancy is used when system reliability is improved through redundant or backup components. Assume that a student's alarm clock has a 15.7% daily failure rate. Complete parts (a) through (d) below. a. What is the probability that the student's alarm clock will not work on the morning of an important final exam? | (Round to three decimal places as needed.) b. If the student has two such alarm clocks, what is the probability that they both fail on the morning of an important final exam? (Round to five decimal places as needed.) c. What is the probability of not being awakened if the student uses three independent alarm clocks? (Round to five decimal places as needed.) d. Do the second and third alarm clocks result in greatly improved reliability? O A. No, because total malfunction would still not be unlikely. O B. No, because the malfunction of both is equally or more likely than the malfunction of one. OC. Yes, because you can always be certain that at least one…
Suppose that we have test for lung cancer, which correctly identifies those with the cancer 70 % of the time, and mistakenly identifies those without the cancer 5 % of the time. In the cohort of interest, the rate of this cancer is somewhat low: 0.9 %. Find the probability -- a number between 0 and 1 -- that someone diagnosed (testing positive) with this test actually has lung cancer.
Assume that the probability of a 25-year-old male living to age 26, based on mortality tables, is 0.993. If a 16,000 dollar one-year term life insurance policy on a 25-year-old male costs 100 dollars, what is its expected value? What is the expected value? The expected value is dollars.
34% of a certain breed of rabbits are born with long hair. What is the probability that in a litter of 11 rabbits, exactly 6 will have long hair? (Give your answer correct to three decimal places.)
Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest to Moria. Based on past experience, the probability of surviving such a quest is 88.9%. If BIC charges a premium of 8,240 silver coins and would pay a death benefit of 56,881 silver coins if the insured were to die, what is the expected value of this insurance policy to BIC? Round to the nearest silver coin as needed. If the expected value is a loss to BIC, enter your answer as a negative number. Phil Dunphy, a real estate agent, is considering whether he should list an unusual $303,402 house for sale. If he lists it, he will need to spend $3,848 in advertising, staging, and fresh cookies. The current owner has given Phil 6 months to sell the house. If he sells it, he will receive a commission of $23,557. If he is unable to sell the house, he will lose the listing and his expenses. Phil estimates the probability of selling this house in 6 months to be 73%. What is the expected…

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