LV Insurance classifies drivers as good, medium, or poor risks. Drivers who apply to them for insurance fall into these three groups in the proportions 30%, 55%, and 15%, respectively. The probability a “good” driver will have an accident is 0.01, the probability a “medium” risk driver will have an accident is 0.04, and the probability a “poor” driver will have an accident is 0.15 The company sells Mr. Villan an insurance policy and he has an accident. What is the probability Mr. Villan is: (i) A “good” driver? (ii) A “medium” risk driver? (iii) A “poor” driver?

LV Insurance classifies drivers as good, medium, or poor risks. Drivers who apply to them for insurance fall into these three groups in the proportions 30%, 55%, and 15%, respectively. The probability a “good” driver will have an accident is 0.01, the probability a “medium” risk driver will have an accident is 0.04, and the probability a “poor” driver will have an accident is 0.15 The company sells Mr. Villan an insurance policy and he has an accident. What is the probability Mr. Villan is: (i) A “good” driver? (ii) A “medium” risk driver? (iii) A “poor” driver?

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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