Q3/ An insurance company considers that people can be split in two groups : thosewho are likely to have accidents and those who are not. Statisties show that a personwho is likely to have an accident has probability 0.4 to have one over a year; thisprobability is only 0.2 for a person who is not likely to have an accident. We assumethat 30% of the population is likely to have an accident.(a) What is the probability that a new customer has an accident over the first year ofhis contract?(b) A new customer has an accident during the first year of his contract. What is theprobability that he belongs to the group likely to have an accident?Ans: (a- 0.26, b- 0.46)

Let us define some events A : a new customer belongs to the group likely to have an accident. B : a…

Answered: (a) What is the probability that a new…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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(a) What is the probability that a new customer has an accident over the first year of his contract? (b) A new customer has an accident during the first year of his contract. What is the probability that he belongs to the group likely to have an accident?