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An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Homeowner's Auto N LMH L 0.04 0.07 0.05 0.04 M 0.07 0.09 0.20 0.09 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles? (d) Based on your answer in part (c), what is the probability that the two categories are different? (e) What is the probability that the individual has at least one low deductible level? A O ENG 502 PM 2/3/2022 DELL FU 34 F10 &e 61 MARKNRDDGA E R T OP F G H. K 121 B Al CAr

An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Homeowner's Auto N LMH L 0.04 0.07 0.05 0.04 M 0.07 0.09 0.20 0.09 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles? (d) Based on your answer in part (c), what is the probability that the two categories are different? (e) What is the probability that the individual has at least one low deductible level? A O ENG 502 PM 2/3/2022 DELL FU 34 F10 &e 61 MARKNRDDGA E R T OP F G H. K 121 B Al CAr

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 26PPS
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An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Homeowner's Auto N LMH L 0.04 0.07 0.05 0.04 M 0.07 0.09 0.20 0.09 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles? (d) Based on your answer in part (c), what is the probability that the two categories are different? (e) What is the probability that the individual has at least one low deductible level? A 0 ENG 502 PM 2/3/2022 DELL OL4 ert 4. 60 N0 [O BackspniCo E R CapLock D F H. K Enter B MI All Cirt
Transcribed Image Text:An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high-for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Homeowner's Auto N LMH L 0.04 0.07 0.05 0.04 M 0.07 0.09 0.20 0.09 0.02 0.03 0.15 0.15 Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles? (d) Based on your answer in part (c), what is the probability that the two categories are different? (e) What is the probability that the individual has at least one low deductible level? A 0 ENG 502 PM 2/3/2022 DELL OL4 ert 4. 60 N0 [O BackspniCo E R CapLock D F H. K Enter B MI All Cirt
Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles? (d) Based on your answer in part (c), what is the probability that the two categories are different? (e) What is the probability that the individual has at least one low deductible level? (f) Using the answer in part (e), what is the probability that neither deductible level is low? Need Help? Read It Watch It Submit Answer 6. [-/14.28 Points] DETAILS DEVORESTAT9 2.2.022. MY NOTES ASK YOUR TEACHER PRACTI ENG DELL Esc F1 F2 F3 F4 F5 F6 F7 F9 F10 Priscr F11 F12 Insert @ %23 $ & 1 4 5 8 9 W E R Y P ock A S D G J K C V Alt Alt Ctr Σ エ
Transcribed Image Text:Suppose an individual having both types of policies is randomly selected. (a) What is the probability that the individual has a medium auto deductible and a high homeowner's deductible? (b) What is the probability that the individual has a low auto deductible? A low homeowner's deductible? auto deductible homeowner's deductible (c) What is the probability that the individual is in the same category for both auto and homeowner's deductibles? (d) Based on your answer in part (c), what is the probability that the two categories are different? (e) What is the probability that the individual has at least one low deductible level? (f) Using the answer in part (e), what is the probability that neither deductible level is low? Need Help? Read It Watch It Submit Answer 6. [-/14.28 Points] DETAILS DEVORESTAT9 2.2.022. MY NOTES ASK YOUR TEACHER PRACTI ENG DELL Esc F1 F2 F3 F4 F5 F6 F7 F9 F10 Priscr F11 F12 Insert @ %23 $ & 1 4 5 8 9 W E R Y P ock A S D G J K C V Alt Alt Ctr Σ エ
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