Consider two types of home insurance: theft insurance and carthquake insurance. Each year there is a 1% chance that the home will be robbed and a 1% chance that the home will bedamaged by an canhquake. Suppose an insurance company writes 100,000 policies of each type for homeowners. The risk of earthquake is a type of common risk, while the risk of theft isindependent across households. At the beginning of the year, the homeowner expects 1% chance of placing a claim for either type of insurance. However, at the end of the year, thehomeowner will have either filled a claim (100%) or not (0%).The standard deviation (expressed in percentage terms) of the claim for an individual homeowner in case of earthquake is kype your answerThe standard deviation (expressed in percentage terms) of the claim for an individual homeowner in case of theft is type your answer.The standard deviation (expressed in percentage terms) of the percentage of claims for the insurance company in case of earthquake is type your answer.The standard deviation (expressed in percentage terms) of the percentage of claims tor the insurance company in case of theft is type your answer.

Given information: Each year there is a 1% chance that the home will be robbed and a 1% chance that…

Answered: Consider two types of home insurance:…

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 principle of redundancy is used when system reliability is improved through redundant or backup components. Assume that a student's alarm clock has a 5.6% daily failure rate. Complete parts (a) through (d) below. a. What is the probability that the student's alarm clock will not work on the morning of an important final exam? b. If the student has two such alarm clocks, what is the probability that they both fail on the morning of an important final exam? c. What is the probability of not being awakened if the student uses three independent alarm clocks? d. Do the second and third alarm clocks result in greatly improved reliability? A. No, because the malfunction of both is equally or more likely than the malfunction of one. B. No, because total malfunction would still not be unlikely. C. Yes, because total malfunction would not be impossible, but it would be unlikely. D. Yes, because you can always be certain that at…
Please do question 1f and 1g handwritten
Problem 5 An engineering project management firm divides projects into three risk categories: 70% of projects are low risk, 20% are medium risk, and 10% are high risk. Based on historical data, a low risk has a 0.03 probability of not being completed on time, a medium risk project has a 0.11 probability of not being completed on time, and a high risk project has a 0.23 probability of not being completed on time. a. What is the probability that the project is low risk and is completed on time? b. What is the probability that a project is not completed on time? c. Given that the project was not completed on time, what is the probability that it was considered to be low risk?
Problem 5 and 6 in Chapter 17 cited a study showing that people tend to choose partners who are similar to themselves. Jones, Pelham, Carvallo, and Mirenberg, (2004) demonstrated that people have a tendency to select marriage partners with surnames that begin with the same last letter as their own. The probability of randomly matching two last names beginning with the same letter is only p = 0.065 (6.5%). a. If 19 out of 200 marriages involved brides and grooms with the last names beginning with the same letter, is that enough to be significantly different than would be expected by chance? Use a two-tailed test with alpha = .05. b. If 38 out of 400 marriages involved the same letter, is that enough to be significant using a two-tailed test with alpha = .05?
Ladarius is playing a board game. To find the number of spaces to move, he rolls a pair of dice. Use this information to complete problems 5 and 6. 5. What is the probability that Ladarius rolls doubles or a sum of 7? Write your answer as a fraction, as a decimal, and as a percent.
Use the following information for problems 4 – 6. Each problem is separate from each other. A box of donuts contains 4 sprinkled, 4 chocolate glazed, 3 maple glazed, and 1 custard filled donuts. 4. Treach into the box and randomly pick a donut. Find the probability that the donut is custard filled. Round to three decimal places.
Problem (2): TV or a DVR? A consumer electronics company has observed that 36% of their customers purchased an LED screen television, 26% of their customers purchases a DVR, and 12 percent of their customers purchased both an LED screen TV and a DVR. Find the probability that a randomly chosen customer either purchases a plasma screen TV or a DVR.
Brandybuck Insurance Company (BIC) is deciding whether to insure the lives of those leading a quest to Moria. Based on past experience, the probability of surviving such a quest is 92.2%. If BIC charges a premium of 7,941 silver coins and would pay a death benefit of 42,081 silver coins if the insured were to die, what is the expected value of this insurance policy to BIC? Round to the nearest silver coin as needed. If the expected value is a loss to BIC, enter your answer as a negative number.

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