Suppose an insurance company has three types of customers-high risk, mediumrisk and low risk. From the company's historical consumer database, it isknown that 25% of its customers are high risk, 25% are medium risk, and 50%are low risk. Also, the database shows that the probability that a customer hasat least one speeding ticket in one year is 0.25 for high risk, 0.16 for mediumrisk, and 0.10 for low risk.Now suppose a new customer wants to be insured and reports that he has hadone speeding ticket this year. What is the probability that he is a high riskcustomer, given that he has had one speeding ticket this year?

Given that: 25% of customers are high risk 25% of customers are medium risk 50% of customers are low…

Answered: Suppose an insurance company has three…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

According to the Chronicles of Contrived Statistics (March, 2016), the probability that scientists from Area 51 will begin selling pet aliens in the next month is 21%. 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 55%. Finally, they list that probability of both happening in the next month is 22%. What is the probability that Elon Musk will offer you a free trip into space in the next month?
The Business School at State University currently has three parking lots, each containing 155 spaces. Two hundred faculty members have been assigned to each lot. On a peak day, an average of 70% of all lot 1 parking sticker holders show up, an average of 72% of all lot 2 parking sticker holders show up, and an average of 74% of all lot 3 parking sticker holders show up. a. Given the current situation, estimate the probability that on a peak day, at least one faculty member with a sticker will be unable to find a spot. Assume that the number who show up at each lot is independent of the number who show up at the other two lots. Compare two situations: (1) each person can park only in the lot assigned to him or her, and (2) each person can park in any of the lots (pooling). (Hint: Use the RISKBINOMIAL function.) If needed, round your answer to a whole percentage and if your answer is zero, enter "0". No pooling: Pooling: 51.4 % 83.8 % b. Now suppose the numbers of people who show up at…
In 2013, the total sales from 3 different car production companies was 606,334 cars or light trucks. The probability that the vehicle was made by Company A was 0.386, by Company B 0.350, and by Company C 0.258. Additionally, the probability that a Company A vehicle sold was a car was 0.379, a Company B vehicle sold was a car was 0.370, and a Company C vehicle sold was a car was 0.332. Given the vehicle sold was a car, find the probability it was made by Company A. The probability a vehicle was made by Company A, given it was a car is (Round to three decimal places as needed.)
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.
In 2013, the total sales from 3 different car production companies was 606,334 cars or light trucks. The probability that the vehicle was made by Company A was 0.381, by Company B 0.350, and by Company C 0.258. Additionally, the probability that a Company A vehicle sold was a car was 0.385, a Company B vehicle sold was a car was 0.370, and a Company C vehicle sold was a car was 0.332. Given the vehicle sold was a car, find the probability it was made by Company A. The probability a vehicle was made by Company A, given it was a car is (Round to three decimal places as needed.)
According to the Center for Disease Control and Prevention (CDC), up to 20% of Americans contract the influenza virus each year, and approximately 3% of all births in the United States result in birth defects each year. Consider two randomly selected Americans and assume that these two randomly selected Americans are independent of each other. The probability that neither of these two randomly selected Americans will contract the influenza virus in a given year is
With regards to a particular gene, the percentage of genotypes AA, Aa, and aa in a particular population are respectively, 60%, 30%, and 10%. Furthermore, the percentages of these genotypes that contract a certain disease are respectively. 1%, 5% and 20%. If a person does contract the disease, what is the probability that the person is of genotype AA?
Suppose that if person with tuberculosis is given a TB screening, the probability that his or her condition will be detected is 0.90. If a person without tuberculosis is given a TB screening , the probability that he or she will be diagnosed incorrectly as having tuberculosis is 0.3. Suppose, further, that 11% of the adult residents of a certain city have tuberculosis. If one of these adults is diagnosed as having tuberculosis based on the screening, what is the probability that he or she actually has tuberculosis?
In a recent senatorial election, 47% of the voters in a certain district were registered as Democrats, 36% were registered as Republicans, and 17% were registered as Independents. The incumbent Democratic senator was reelected over her Republican and Independent opponents. Exit polls indicated that she gained 73% of the Democratic vote, 22% of the Republican vote, and 34% of the Independent vote. Assuming that the exit poll is accurate, what is the probability that a vote for the incumbent was cast by a registered Republican? (Round your answer to three decimal places.)
Upon arrival at a hospital's emergency room, patients are categorized according to their conditions as critical, serious or stable. Past records indicated that 10% of the emergency room patients were critical. 30% of the emergency room patients were serious. • The rest of the emergency room patients were stable. 40% of the critical patient died. 10% of the serious patient died. 1% of the stable patient died. Given that a patient in the emergency room survived, find the probability that the patient was categorized as serious. A. 0.15 B. 0.21 C. 0.29 D. 0.35 E. 0.46
the sales manager knows that 10% of his clients do not pay their debts in full. He supposes that he selects a sample of 100 clients. What is the probability that 14% or more will not be fulfilled in their obligations?

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS