**Insurance Analysis of Driver Accident Probabilities**By evaluating the driving records of individuals in a particular city, an insurance company has derived the following empirical probabilities:**Table: Miles Driven Per Year**| | Less than 10,000 (M₁) | 10,000 - 15,000 inclusive (M₂) | More than 15,000 (M₃) | Totals ||----------------------|----------------------|------------------------------|-----------------------|--------|| **Accident** | 0.05 | 0.15 | 0.20 | 0.40 || **No Accident** | 0.10 | 0.20 | 0.30 | 0.60 || **Totals** | 0.15 | 0.35 | 0.50 | 1.00 |**Scenario Analysis**A driver in this city is selected at random. What is the probability that:a. **They drive less than 10,000 miles per year or have an accident?**b. **They drive 10,000 or more miles per year and have no accidents?** The probability is given as 0.50.

(a) Obtain the probability that he or she drives the car less than 10,000 miles per year or has an…

Answered: Insurance. By examining the past…

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...

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20. Based on student records, 25% of the students at a large high school have a GPA of 3.5 or better, 16% of the students are currently enrolled in at least one AP class, and 12% of the students have a GPA of 3.5 or better and are enrolled in at least one AP class. If we select one student at random, what is the probability that the student has a GPA lower than 3.5 and is not taking any AP classes? (A) 0.29 (B) 0.47 (C) 0.53 (D) 0.63 (E) 0.71
2
Q. 2 A car dealer notes the following probabilities about his customers: P(those who buy a new car) = 0.25 P(those who buy a European car) = 0.30 P(those who neither buy a new car nor an European car) = 0.54 Find the probability that next customer buys a new European car?
Calculating the probability of a single event having multiple conditions requires adding the fractional probabilties of each condition together. What is the probabilty of a single event whose two conditions have a probability of: 1/2 and 1/10 Possible Answers.. 6/10 reducing to 3/5 3/10 1/20 2/12 reducing to 1/6
An electronic company manufactures electrical resistors with Rave = 40 Q and SD= 2, same unit. What is the probability that the manufactured products will exceed 43 Q? Assume normal distribution. O 17.24% O 82.76% O 93.32% O 6.68%
Q. 2 A car dealer notes the following probabilities about his customers: P(those who buy a new car ) = 0.25 P(those who buy a European car) = 0.30 P(those who neither buy a new car nor an European car ) = 0.58 Find the probability that next customer buys a new European car?
The probabilities are 0.4, 0.2 and 0.3 and 0.1, respectively, that a student uses LAN,Wifi, Prepaid Data, or Hotspot for internet connection. What is the probability thatamong 10 randomly selected students, 2 use LAN, 4 use Wifi, 3 use prepaid data,and 1 uses Hotspot for their internet connection?
5.Approximately 64% of the people murdered actually knew their murderer. Given 63 current unsolved murders, what is the probability that at least (equal to and more than) 35 victims knew their murderer?
Suppose that 30 percent of an adult population have an infectious disease and 40 percent have achronic disease. Assume that having an infectious disease is independent from having a chronicdisease. For each of the questions below perform the calculation using appropriate statisticalnotation.a. What is the probability that a person selected at random will have both diseases?b. What is the probability of having the infectious disease for people with the chronic disease?c. What is the probability of having the infectious disease for people without the chronic disease?d. What is the probability of not having the infectious disease for people with the chronicdisease?
in 21. A salesman wants to know the average number of units he sells per sales checks his past sales records and comes up with the following probabilities : 2. Sales in Units 1. 4 Probability 0.15 0.20 0.10 0.05 0.30 0.20 What is the average number of units he sells per sales call ? .
12. A survey conducted discovered that 63% of all Americans are overweight. Suppose that a number of randomly selected Americans are weighed. The following table may (or may not) be useful: k 0 1 2 3 4 1 4 6 4 1 4Ck (a) Find the probability that the 4th person weighed is the first person to be overweight. (b) Find the probability that it takes less than 4 people to observe the first overweight person. (c) Find the expected value and variance of the number of Americans that would have to be weighed in order to find the first person that was overweight.

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