Class Number of Claim Count Probabilities Insureds 1 4 1 3000 2000 3 1000 A randomly selected insured has one claim in Year 1. Determine the expected number of claims in Year 2 for that insured. (A) 1.00 (B) 1.25 (C) 1.33 (D) 1.67 (E) 1.75 2.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter6: Ratio, Proportion, And Probability
Section6.7: Probability And Odds
Problem 1C
Question
Class
Number of
Insureds
Claim Count Probabilities
1
2
3
4
1
3000
2
2000
3
1000
A randomly selected insured has one claim in Year 1.
Determine the expected number of claims in Year 2 for that insured.
(A)
1.00
(B)
1.25
(C)
1.33
(D)
1.67
(E)
1.75
Transcribed Image Text:Class Number of Insureds Claim Count Probabilities 1 2 3 4 1 3000 2 2000 3 1000 A randomly selected insured has one claim in Year 1. Determine the expected number of claims in Year 2 for that insured. (A) 1.00 (B) 1.25 (C) 1.33 (D) 1.67 (E) 1.75
Expert Solution
steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning