In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.007. The probability that a person in the United Stateswould declare personal bankruptcy and had recently experienced a "big three" event (loss of job, medical problem, or divorce or separation) was 0.004. What wasthe probability that a person had recently experienced one of the "big three" events, given that she had declared personal bankruptcy? (Round your answer to fourdecimal places.)Submit Answer

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Answered: In a certain year, the probability that…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Brian is undecided as to whether to take a French course or a Russian course. He estimates that his probability of receiving an A grade would be 1/3 in a French course and 2/5 in a Russian course. If Brain decides to base his decision on the flip of a fair coin, what is the probability that he gets an A in Russian?
Suppose you like to keep a jar of change on your desk. Currently, the jar contains the following: 5 Pennies 26 Dimes 18 Nickels 10 Quarters What is the probability that you reach into the jar and randomly grab a nickel and then, without replacement, another nickel? Express your answer as a fraction or a decimal number rounded to four decimal places.
In a certain year, the probability that a person in the United States would declare personal bankruptcy was 0.004. The probability that a person in the United States would declare personal bankruptcy and had recently experienced a "big three" event (loss of job, medical problem, or divorce or separation) was 0.002. What was the probability that a person had recently experienced one of the "big three" events, given that she had declared personal bankruptcy? (Round your answer to four decimal places.)
In a certain high school, the probability that a student drops out is 0.1, and the probability that a dropout gets a high-school equivalency diploma (GED) is 0.25. What is the probability that a randomly selected student gets a GED?
An insurance company has written 50 policies for $125,000, 100 policies for $30,000, and 250 policies for $10,000 for people of age 20. If experience shows that the probability that a person will die at age 20 is 0.0012, how much can the company expect to pay out during the year the policies were written?
Richies insurance company offers a 250,000 life insurance policy for a premium of $750 per year. If the probability you live through the year is .9977 what is the expected value to the insurance company
Suppose the probability of an IRS audit is 1.2 percent for U.S. taxpayers who file form 1040 and who earned $100,000 or more. (a) What are the odds that such a taxpayer will be audited? (Round your answers to the nearest whole number.) Odds that a taxpayer will be audited to (b) What are the odds against such a taxpayer being audited? (Round your answers to the nearest whole number.) Odds against a yaxpayer being audited to
Diet Dr.Pepper is going old school and putting a "Free DP" notification under 10% of their 20-oz bottle caps. If I purchase a 6-pack of 20-oz bottles, what is the probability that I win at least two free drpeppers?
An airline company is considering a new policy of booking as many as 354 persons on an airplane that can seat only 330. (Past studies have revealed that only 89% of the booked passengers actually arrive for the flight.) Estimate the probability that if the company books 354 persons. not enough seats will be available.
If the probability that the Islanders will beat the Rangers in a game is 81%, what is the probability that the Islanders will win at least three out of five games in a series against the Rangers? Round your answer to the nearest thousandth.
The probability that an applicant will be approved for a mortgage is 0.15. Each applicant has the same probability of being approved and the event that they are approved are independent. What is the probability that out of three applicants, exactly two of them get approved? Enter your answer as a decimal, with three decimal places. For example, if the probability is 15.37%, enter 0.154
Suppose that 51% of the people who inquire about investments at a certain brokerage firm end up investing in stocks, 41% end up investing in bonds, and 61% end up investing in stocks or bonds (or both). What is the probability that a person who inquires about investments at this firm will invest in both stocks and bonds? Write your answer as a decimal (not as a percentage).

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