In insurance sector, the customers are categorized as high risk level, medium risk level and low risk level. The probabilities related with high risk level is 0.1, 0.4 for medium risk and 0.5 for low risk level. In one year period a person from low risk level will have an accident with a probability of 0.1, a person from medium risk level will have an accident with a probability of 0.2, a person from high risk level will have an accident with a probability of 0.35. If a person didn't have accident in that year, calculate the probability that a person is from low risk level? Seçtiğiniz cevabın işaretlendiğini görene kadar bekleyiniz. Soruyu boş bırakmak isterseniz işaretlediğiniz seçeneğe tekrar tıklayınız. 15,00 Puan A. 0,45 0.303 0.05 0.539 amak için buraya yazın

In insurance sector, the customers are categorized as high risk level, medium risk level and low risk level. The probabilities related with high risk level is 0.1, 0.4 for medium risk and 0.5 for low risk level. In one year period a person from low risk level will have an accident with a probability of 0.1, a person from medium risk level will have an accident with a probability of 0.2, a person from high risk level will have an accident with a probability of 0.35. If a person didn't have accident in that year, calculate the probability that a person is from low risk level? Seçtiğiniz cevabın işaretlendiğini görene kadar bekleyiniz. Soruyu boş bırakmak isterseniz işaretlediğiniz seçeneğe tekrar tıklayınız. 15,00 Puan A. 0,45 0.303 0.05 0.539 amak için buraya yazın

Name: In insurance sector, the customers are categorized as high risk level
Uploaded: 2024-03-20T07:06:41.000Z
Channel: Bartleby
Description: In insurance sector, the customers are categorized as high risk level, medium risk level and low risk level.The probabilities related with high risk level is 0.1, 0.4 for medium risk and 0.5 for low risk level. In oneyear period a person from low ri

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

If the probability of a person losing on a scratch-off lottery ticket is 0.955, the odds of losing are
According to the Chronicles of Contrived Statistics (March, 2016), the probability that Elon Musk will offer you a free trip into space in the next month is 26%. The probability that scientists from Area 51 will start selling pet aliens next month is 31%. Finally, the probability that either Elon Musk will offer you a free trip to space or that scientists will begin sales of pet aliens next month is 11%. What is the probability that both Elon Musk will offer you a free trip into space and scientists from Area 51 will start selling pet aliens in the next month? Answer in decimal form. Round to two decimal places as needed. Your Answer:
There was a baseball game between Oscar and Gabe. The chance of Oscar winning is 3/5 (60%). The chance of Gabe winning is 2/5 (40%). This game wasn't a one game competition. It's the best of 5 series. This means the first person to win 3 games is the overall champion. What's the probability (% is best) that Oscar is the champion? Don't answer this question as Oscar with a 60% chance and Gabe as a 40% chance. Also, don’t use the equation for finding multiple events for probability.
An engineer decides to buy four new snow tires for his car. He finds that Retailer A is offering a special cash rebate, which depends on how much snow falls during the first winter. If this snowfall is less than 50% of the mean annual snowfall for his city, his rebate will bet 50% of the list price. If the snowfall that winter is more than 50% but less than 75% of the mean annual snowfall, his rebate will be 25% of the list price. If the snowfall is more than 75% of the mean annual snowfall, he will receive no rebate. The engineer finds from a reference book that the annual snowfall for his city has a mean of 80 cm and standard deviation of 20 cm and approximates a normal distribution. The list price for the brand and size of tires he wants is $80.00 per tire. The engineer checks other retailers and finds that Retailer B sells the same brand and size of tires with the same warranty for the same list price but offers a discount of 5% of the list price regardless of snowfall that…
At the close of the stock markets on a day in 2017, there were 6100 companies listed with certain stock exchanges. On this day, the probabilities of advancing, declining, and unchanged company stocks appears in the table for the two exchanges. Find the probability that a stock was listed on Exchange 2 given that it advanced. Percentage of Probability of Probability of Companies Probability the Stock Stock Stocks Remain Unchanged Exchange Exchange 1 Exchange 2 Listed Advancing Declining 0.2466 0.5052 0.7237 0.0297 0.4948 0.6009 0.3455 0.0536 ...... Let F be Exchange 2 and E be an advance. P(F) = and P(F') =D
At a local high school, 15% of the students have blue eyes. Each day, 9% of the blue-eyed students wear sunglasses on their way to school, while only 2% of the students with non-blue eyes wear sunglasses. Find the probability that a randomly selected student has blue eyes given that they wore sunglasses on their way to school.
According to the survey of American households, the probability that the household owns Smart 3D HDTV if the house has two earning members is 51%. Of the households surveyed, 47% did not have two earning members and 48%had Smart 3D HDTVs. The probability that a household does not have two earning members and does not own a Smart 3D HDTV is
The probability that Blue locks soccer team will win a game is 7/11 while the probability of our opponent will win is 4/11?
A person rides uber 30% of the time, her roommate gives her a ride 30% of the time and she rides with her mom 40% of the time. She is late 10% of the time with her roommate she is late 3% of the time when she rides uber and 7% of the time when she rides with her mom. What is the probability that she wil be on time if she rides with her roommate?
How will you apply the probabilities in real life as a engineer?
In China approximately 70% of people are vaccinated. The current infection rate from the disease is about 2 per thousand people per day, shared between those that are unvaccinated and those vaccinated. the probability of getting infected if not vaccinated is 10 times larger than the probability of getting infected if not vaccinated. a/given the total infection rate and vaccination what would be the infection rate among the vaccinated? b/ if someone gets infected what is the probability that they were vaccinated? c/ draw a fiag
A web server's visit always comes from five sites. The percentages of known visits from sites 1, 2, 3, 4 and 5 are 20%, 30%, 15%, 10% and 25% respectively. The probability of visits from five sites lasting more than 2 minutes is 0.4, 0.6, 0.8, 0.2 and 0.9 respectively. Now randomly select a visit. What is the probability that the visit lasts more than 2 minutes? If the selected visit last more than 2 minutes, which sites does it most likely come from?