An auto insurance company classifies each motorist as "high risk" if the motorist has had at least one moving violation during the past calendar year and "low risk" if the motorist has had no violationsduring the past calendar year. According to the company's data, a high-risk motorist has a 50% chance of remaining in the high-risk category the next year and a 50% chance of moving to the low-riskcategory. A low-risk motorist has a 30% chance of moving to the high-risk category the next year and a 70% chance of remaining in the low-risk category. In the long term, what percentage ofmotorists fall in each category? (Round your answers to two decimal places.)high-risk category%low-risk category%

Answered: An auto insurance company classifies…

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 percent of licensed U.S. drivers (from a recent year) that are female is 48.60. Of the females, 5.03% are age 19 and under; 81.36% are age 20-64; 13.61% are age 65 or over. Of the licensed U.S. male drivers, 5.04% are age 19 and under; 81.43% are age 20-64; 13.53% are age 65 or over.Suppose that 10,000 U.S. licensed drivers are randomly selected. Using a tree diagram of the given situation, construct a contingency table of gender versus age group. (Round your answers to the nearest whole number.) 19 and under 20-64 65 and over Total Female Male Total 10,000
Data from the Bureau of Labor Statistics indicates that in a certain month, 33.1% of the labor force had a high school diploma or fewer years of education, 20.2% had some college or an associate's degree, and 46.7% had a bachelor's degree or more education. Of those with a high school diploma or fewer years of education, 9.1% were unemployed. Of those with some college or an associate's degree, 3.3% were unemployed, and of those with a bachelor's degree or more education, 3.1% were unemployed. Find the probability that a randomly chosen labor force participant has a high school diploma or less education given that he or she is unemployed. ..... The probability is (Type an integer or decimal rounded to three decimal places as needed.)
Data from the Bureau of Labor Statistics indicates that in a certain month, 36.8% of the labor force had a high school diploma or fewer years of education, 29.9% had some college or an associate's degree, and 33.3% had a bachelor's degree or more education. Of those with a high school diploma or fewer years of education, 6.8%were unemployed. Of those with some college or an associate's degree, 4.7% were unemployed, and of those with a bachelor's degree or more education, 2.9%were unemployed. Find the probability that a randomly chosen labor force participant has some college or an associate's degree given that he or she is unemployed.
Avicenna, an insurance company, offers five-year commercial property insurance policies to small businesses. If the holder of one of these policies experiences property damage in the next five years, the company must pay out $23,600 to the policy holder. Executives at Avicenna are considering offering these policies for $791 each. Suppose that for each holder of a policy there is a 3% chance they will experience property damage in the next five years and a 97% chance they will not. (If necessary, consult a list of formulas.) If the executives at Avicenna know that they will sell many of these policies, should they expect to make or lose money from offering them? How much? To answer, take into account the price of the policy and the expected value of the amount paid out to the holder. O Avicenna can expect to make money from offering these policies. In the long run, they should expect to make dollars on each policy sold. O Avicenna can expect to lose money from offering these policies.…
Nationally, 38% of fourth-graders cannot read an age-appropriate book. The following data show the number of children, by age, identified as learning disabled under special education. Most of these children have reading problems that should be identified and corrected before third grade. Current federal law prohibits most children from receiving extra help from special education programs until they fall behind by approximately two years’ worth of learning, and that typically means third grade or later (USA Today, September 6, 2001). Age Number of Children 6 37,369 7 87,436 8 160,840 9 239,719 10 286,719 11 306,533 12 310,787 13 302,604 14 289,168 Suppose that we want to select a sample of children identified as learning disabled under special education for a program designed to improve reading ability. Let x be a random variable indicating the age of one randomly selected child. Question…
Kentville, a community of 10,000 people, resides next to a krypton mine, and there is a concern that the emission from the krypton smelter have resulted in adverse effects. Specifically, Kryptonosis seems to have killed 12 of Kentville’s inhabitants last year. A neighboring community, Lanesburg, has 25,000 inhabitants and is far enough from the smelter to not be affected by the emission. In Lanesburg, only three people last year died of Kryptonosis. Given that the number of deaths in Kentville and their causes last year were: Heart attack=7 Accidents=4 Kryptonosis=12 Other=6 What is the risk of dying of Kryptonosis in Kentville relative to non-contaminated locality?What is the risk of dying of Kryptonosis in Kentville relative to deaths due to other causes? How many times the chance of dying of Kryptonosis compared to dying of accidents ? How many times the chance of dying of Kryptonosis compared to Other causes?
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Five percent of the customers who visit a website complete a product purchase. If one considers just the set of customers who completed the project purchase at the website, 80% read at least some of the user reviews about the product on the site. When considering those customers who did not purchase of the product at the website, only 20% of these potential customers read the user reviews about the product on the site. The website managers are interested in how customer review-reading behavior affects the likelihood of purchase. A likelihood probability for this problem context is: A. P(Purchase | Visit Site) B. P(Did Not Purchase | Read User Reviews) C. P(Visit Site | Purchase) D. P(Did Not Read User Reviews | Product Purchased) E. None of the answers are correct.
Five percent of the customers who visit a website complete a product purchase. If one considers just the set of customers who completed the project purchase at the website, 80% read at least some of the user reviews about the product on the site. When considering those customers who did not purchase of the product at the website, only 20% of these potential customers read the user reviews about the product on the site. The website managers are interested in how customer review-reading behavior affects the likelihood of purchase. Which of the following probability statements are true? P(Read Reviews | Purchase) = 0.040 P(Did Not Purchase | Read Reviews) = 0.726 None of the answers are correct. P(Purchase | Did Not Read Reviews) = 0.040 P(Did Not Read Reviews | Did Not Purchase) = 0.200
Researchers are interested in whether the presence of another person influences one’s level of self-reported stress when performing a public speaking tasks. Participants performed the public speaking task on three different occasions. Once in the presence of a friend who provided support, another time in the presence of a stranger who provided support, and a third time alone, without any support
A researcher conducts a cross-sectional analysis of workers and finds a positive correlation between the number of hours high schoolers spent practicing a musical instrument and their subsequent college performance. Explain how this relationship could be causal. The researcher advocates a policy of requiring all students to take band in order to improve future outcomes. What is a possible problem with this analysis?

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