The table below shows the probabilities of a person accumulating specific amounts of credit card charges over a 12-month period. Find the probability that a person's total charges during the period are $500 or more. Charges Under $100 Probability 0.47 $100-$499 0.36 $500-$999 0.12 $1000 or more 0.05

The table below shows the probabilities of a person accumulating specific amounts of credit card charges over a 12-month period. Find the probability that a person's total charges during the period are $500 or more. Charges Under $100 Probability 0.47 $100-$499 0.36 $500-$999 0.12 $1000 or more 0.05

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

Suppose a person is looking for a one-year life insurance policy. They decide on a $232994 policy. This policy costs $291 per year. Suppose the probability the person dies in the year is 0.0006. Find the expected value of the policy for the insurance company. Give your answer as a decimal to at least two decimal places.
There is a 0.9984 probability that a randomly selected 28-year-old male lives through the year. A life insurance company charges $168 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $100,000 as a death benefit. Complete parts (a) through (c) below.
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
plz and Asap thanks
An insurance company sells a $20,000, seven-year term life insurance policy to an individual for $1,700. Find the expected return for the company if the probability the individual will live for the next seven years is 0.92. (Round your answer to the nearest cent.)$
Answer #30 please. Show work.
At a particular college 19 percent of the students major in business. All business majors are required to take a statistics course. Of the students not majoring in business, 31 percent of them still have to take a statistics course. What is the probability that a student has to take a statistics course at this particular college? Type your answer as a decimal to 4 decimal places.
The annual premium for a $20,000 insurance policy against the theft of a painting is $300. If the probability that the painting will be stolen during the year is 0.02, what is your expected return from the insurance company if you take out this insurance? Upload your answer with your work and explanations here
The probability that a 22-year-old female in the U.S. will die within one year is approximately 0.00044. If an insurance company sells a one-year, $20,000 life insurance policy to such a person for $295, what is the company's expectation? (Round your answer to the nearest dollar.)$
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
The probability that MICRONICS SYSTEMS salesperson sells a computer to a prospective customer on the first visit is 0.4. If the salesperson fails to make the sale on the first visit, the probability that the sale will be made on the second visit is 0.65. The salesperson never visits a prospective customer more than twice. Find the probability that the salesperson will make a sale to a particular customer