Assume that about 35% of all U.S. adults try to pad their insurance claims. Suppose that you are the director of an insurance adjustment office. Your office has just received 140 insurance claims to be processed in the next few days. What is the probability that fewer than 44 of the claims have been padded? 0.165 O 0.213 0.787 O 0.812

Assume that about 35% of all U.S. adults try to pad their insurance claims. Suppose that you are the director of an insurance adjustment office. Your office has just received 140 insurance claims to be processed in the next few days. What is the probability that fewer than 44 of the claims have been padded? 0.165 O 0.213 0.787 O 0.812

Name: Assume that about 35% of all U.S. adults try to pad their insurance c
Uploaded: 2024-03-20T06:38:44.000Z
Channel: Bartleby
Description: Assume that about 35% of all U.S. adults try to pad their insurance claims. Supposethat you are the director of an insurance adjustment office. Your office has justreceived 140 insurance claims to be processed in the next few days. What is theprobab

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: An insurance company sells a $10,000 1-year term life insurance policy to people aged 70 - 79 for…

Q: Suppose that in a group of 510 students at ISU, there are 67 business majors and 204 freshmen. There…

A: We have to find the solution.

Q: Help her address the charge of gender discrimination by finding the probability of getting five or…

A: NOTE: as per guidelines i have calculated first main question here given After being rejected for…

Q: 2. A manufacturer is studying the effects of cook- ing temperature, cooking time, and type of…

A: We have to find Answer only the problem (2) as said in the Question.

Q: A newly opened restaurant is awarding 23% of their new patrons with a complimentary lunch and the…

A: Define the Events, A : The person receives a complementary lunch B : The person orders online So, Ac…

Q: Suppose that 20% of the programs sold at the home game of a professional sports team contain a…

A: Since, we have to calculate the probability that at least half of the friends received the discount…

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: a. What is the probability that a randomly selected order was placed online? Answer in exact…

Q: Jim is the owner of a stock with annual returns of 17.6 percent, −11.7 percent, 5.6 percent, and 9.7…

A: Here the given information is Jim is the owner of a stock with annual returns of 17.6 percent, −11.7…

Q: a. If all your computer data is stored on a hard disk drive with a copy stored on a second hard…

A: Assume that there is a 4% rate of disk drive failure in a year. 1-p= 0.04, p=0.96 a) The…

Q: Assume that there is a 7% rate of disk drive failure in a year. a. If all your computer data is…

A: Given, Assume that there is a 7% rate of disk drive failure in a year.a. If all your computer data…

Q: A town recently dismissed 8employees in order to meet their new budget reductions. The town had 6…

Q: a. What is the probability that a person who has booked a donation appointment will not attend for…

A: Here use binomial theorem Because Finite number of trial Each trial independent of each other Two…

Q: The Trace household has triplets who have just turned 16, and all of them want to drive the family…

A: For geometric distribution, there are four requirements need to be fulfilled. These requirements are…

Q: In a typical month, an insurance agent presents life insurance plans to 40 potential customers.…

A: It is given that the number of observations are independent with probability of success p = 1/4 =…

Q: Suppose that Revenue Canada will audit 20% of income tax returns reporting an annual income of more…

A: Given,n=15p=0.2q=1-p=1-0.2=0.8A random variable X~Binomial(n=15 , p=0.2)P(X=x)=15x 0.2x0.815-x ;…

Q: r or every 10 car accidents that happen in the Winter, 8 happen on snowy days and 2 happen on…

Q: calculate the probability that there are fewer than 4 tornadoes in a 12-year period.

A: Let , X be the number of tornadoes in a 12-year period Here , X→B(n=12 , p=0.11) The probability…

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

A: According to the given assumptions,The probability of a tornado in any calendar year is 0.13That is,…

Q: Historical data suggests that one in four of all insurance policies of a certain company are…

A: Solution; Given data : Number Of policies randomly selected; n=15. Probability is given by ; one in…

Q: Suppose you like to keep a jar of change on your desk. Currently, the jar contains the following: 5…

A: A jar contains No. of pennies=5No. of Dimes=26No. of Nickels=18No. of Quarters=10Total no. coins in…

Q: Assume that about 45% of all U.S. adults try to pad their insurance claims. Suppose that you are the…

A: p=0.45 (padded) q=1-0.45=0.55 n=120 then mean=np=54

Q: A box contains 9 non-defective (N) items and 4 defective (D) items. Three items are drawn without…

A: We have to find probability of atlist one defective......

Q: Suppose that 28.7% of Canadians contributed to their RRSP (registered retirement fund) this year. If…

A: We have given that, X be the random variable from binomial distribution with p= 28.7% = 0.287 and…

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

A: We have to use binomial distribution to find out the probability of getting at most 3 ornando in 11…

Q: Assume that there is a 66% rate of disk drive failure in a year. a. If all your computer data is…

A: Introduction: A catastrophe would be caused if all the hard disk drives available to a person fail…

Q: When a customer places an order with SunShine on-line supplies, a computerized accounting…

Concept explainers

Statements and Logic

Logic is the analysis of general patterns of thoughts without regard to any specific sense of context.

Topic Video

Question

Assume that about 35% of all U.S. adults try to pad their insurance claims. Suppose
that you are the director of an insurance adjustment office. Your office has just
received 140 insurance claims to be processed in the next few days. What is the
probability that fewer than 44 of the claims have been padded?
0.165
O 0.213
0.787
0.812
0.835

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Propositional Calculus$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

A company prices its tornado insurance using the following assumptions: • In any calendar year, there can be at most one tornado. • In any calendar year, the probability of a tornado is 0.01. • The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year. Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 21-year period.
Assume that there is a 9% rate of disk drive failure in a year. a. If all your computer data is stored on a hard disk drive with a copy stored on a second hard disk drive, what is the probability that during a year, you can avoid catastrophe with at least one working drive? b. If copies of all your computer data are stored on four independent hard disk drives, what is the probability that during a year, you can avoid catastrophe with at least one working drive? a. With two hard disk drives, the probability that catastrophe can be avoided is (Round to four decimal places as needed.)
A company prices its tornado insurance using the following assumptions:• In any calendar year, there can be at most one tornado.• In any calendar year, the probability of a tornado is 0.05.• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 20-year period.
Assume that there is a 4% rate of disk drive failure in a year. a. If all your computer data is stored on a hard disk drive with a copy stored on a second hard disk drive, what is the probability that during a year, you can avoid catastrophe with at least one working drive? b. If copies of all your computer data are stored on three independent hard disk drives, what is the probability that during a year, you can avoid catastrophe with at least one working drive? a. With two hard disk drives, the probability that catastrophe can be avoided is (Round to four decimal places as needed.) b. With three hard disk drives, the probability that catastrophe can be avoided is (Round to six decimal places as needed.)
A company prices its tornado insurance using the following assumptions:• In any calendar year, there can be at most one tornado.• In any calendar year, the probability of a tornado is 0.08.• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 22-year period.
The First Mortgage Company has noted that 6% of its customers pay their mortgage payments after the due date. a. What is the probability that in a random sample of 150 customers 7 will be late on their payments? b. What is the probability that in a random sample of 150 customers at least 10 will be late on their payments?
If the Jiffy Oil service rate for changing the oil in passenger cars is seven cars per hour. What is the probability that in the next hour, more than four car will need their oil changed? 0.8331 0.1669 0.8522 0.2946
Eight college students have applied for internship at a local farm. Four of them will be selected for interviews.In how many ways can four students be selected for interviews? Five of the eight students are from middle Georgia State College. What is the probability that all four of the interview students are from middle Georgia State College? Express your answer as a reduced fraction or decimal rounded to at least four decimal places.
A company prices its tornado insurance using the following assumptions:• In any calendar year, there can be at most one tornado.• In any calendar year, the probability of a tornado is 0.08.• The number of tornadoes in any calendar year is independent of the number of tornados in any other calendar year.Using the company's assumptions, calculate the probability that there are fewer than 4 tornadoes in a 21-year period.
Please answer the attached third problem
Assume that there is a 8% rate of disk drive failure in a year. a. If all your computer data is stored on a hard disk drive with a copy stored on a second hard disk drive, what is the probability that during a year, you can avoid catastrophe with at least one working drive? b. If copies of all your computer data are stored on four independent hard disk drives, what is the probability that during a year, you can avoid catastrophe with at least one working drive? a. With two hard disk drives, the probability that catastrophe can be avoided is 0.9936. (Round to four decimal places as needed.) b. With four hard disk drives, the probability that catastrophe can be avoided is ☐ (Round to six decimal places as needed.)
There is a 0.9985 probability that a randomly selected 30-year-old male lives through the year. A life insurance company charges $191 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $120,000 as a death benefit. Complete parts (a) through (c) below.