When applying for insurance, potential cus-tomers are asked if they have good or badcredit. Just before approving the new cus-tomer, the insurance company orders a creditreport to verify the customer's actual creditrating. Historically, 49% of customers withbad credit claim they have good credit and12% of customers with good credit misreportthey have bad credit. If the insurance com-pany has set its credit standards so that 51%of approved customers have good credit, whatis the probability an approved customer hasgood credit, given that they claimed to havegood credit during the application process?Round answer to the nearest whole percent.Answer in units of percent. Answer inunits of percent.

Let us define some events A : a customer has good credit. B : a customer has bad credit. E : a…

Answered: When applying for insurance, potential…

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section: Chapter Questions

Problem 29T

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I have money earned from working 40 hours a week, and I have money from a lottery scratcher. Our text tells us that we will likely treat these dollars differently. True False
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A state highway commission is considering removing the lane that allows people to pay cash for a toll on a toll road and requiring all people who use the toll road to pay with an electronic transponder that is connected to their car. The commission wants to know whether the proportion of people who live in the northern part of the state and are in favor of removing the cash lane is different from the proportion of people who live in the southern part of the state and are in favor of removing the cash lane. Independent random samples are selected from the northern and southern parts of the state. The table summarizes the responses of those surveyed. Northern Southern Total Remove Cash Lanes 112 98 210 Keep Cash Lanes 89 105 194 Total 201 203 404 Which of the following is closest to the pp-value of the appropriate test to investigate whether the proportion of people living in the northern part of the state who are in favor of removing the cash lane is different from…
What are the conditions for a valid Instrument?
Texas is home to more than one million undocumented immigrants, and most of them are stuck in low-paying jobs. Meanwhile, the state also suffers from a lack of skilled workers. The Texas Workforce Commission estimates that 133,000 jobs are currently unfilled, many because employers cannot find qualified applicants (The Boston Globe, September 29, 2011). Texas was the first state to pass a law that allows children of undocumented immigrants to pay in-state college tuition rates if they have lived in Texas for three years and plan to become permanent residents. The law passed easily back in 2001 because most legislators believed that producing college graduates and keeping them in Texas benefits the business community. In addition, since college graduates earn more money, they also provide the state with more revenue. Carol Capaldo wishes to estimate the mean hourly wage of workers with various levels of education. She collects a sample of the hourly wages (in $) of 30 workers with a…
The Russel Reynold Association surveyed retired senior executives who had returned to work. They found that after returning to work, 38% were employed by another organization, 32% were self-employed, 23% were either freelancing or consulting, and 7% had formed their own companies. To see if these percentages are consistent with those of Allegheny County residents, a local researcher surveyed 300 retired executives who had returned to work and found that 122 were working for another company, 85 were self-employed, 76 were either freelancing or consulting, and 17 had formed their own companies. State the null and alternative hypothesis and identify the claim, at α=0.10 to test the claim that the percentages are the same for those people in Allegheny Country.
According to Inc.com, 71% of job seekers used social media in their job search in 2018. Many believe this number is inflated by the proportion of 22- to 30-year-old job seekers who use social media in their job search. A survey of 22- to 30 -year-old job seekers showed that 310 of the 370 respondents use social media in their job search. In addition, 275 of the 370 respondents indicated they have electronically submitted a resume to an employer.
A survey reported that 77% of registered voters in California approved of allowing two people of the same gender to marry and have regular marriage laws apply to them. Among 18 to 39-year-old registered voters in California, 92% approved of gay marriage. 34% of Californian registered voters are between the ages of 18 and 39. Out of the voters who approved of gay marriage, what is the percentage that are between the ages of 18- 39?
An entrepreneur owns 20 corporations, each with more than $10 million in assets. The entrepreneur consults the U. S. Internal Revenue Data Book and discovers that the IRS audits 20% of businesses of that size. On average how many of this entrepreneur's corporations do you expect will be audited. You can assume that all 20 corporations are independent. You do not need any knowledge about the IRS. Use probably and statistics.
According to Inc.com, 79% of job seekers used social media in their job search in 2018. Many believe this number is inflated by the proportion of 22- to 30-year-old job seekers who use social media in their job search. Suppose a survey of 22- to 30-year-old job seekers showed that 306 of the 370 respondents use social media in their job search. In addition, 281 of the 370 respondents indicated they have electronically submitted a resume to an employer. (a)Conduct a hypothesis test to determine if the results of the survey justify concluding the proportion of 22- to 30-year-old job seekers who use social media in their job search exceeds the proportion of the population that use social media in their job search. Use ? = 0.05. State the null and alternative hypothesis. (Enter != for ≠ as needed.) H0: Ha: Find the value of the test statistic. (Round your answer to two decimal places.) = Find the p-value. (Round your answer to four decimal places.) p-value = State…
According to Inc.com, 79% of job seekers used social media in their job search in 2018. Many believe this number is inflated by the proportion of 22- to 30-year-old job seekers who use social media in their job search. Suppose a survey of 22- to 30-year-old job seekers showed that 306 of the 370 respondents use social media in their job search. In addition, 279 of the 370 respondents indicated they have electronically submitted a resume to an employer. (a) Conduct a hypothesis test to determine if the results of the survey justify concluding the proportion of 22- to 30-year-old job seekers who use social media in their job search exceeds the proportion of the population that use social media in their job search. Use ? = 0.05. State the null and alternative hypothesis. (Enter != for ≠ as needed.) H0: Ha: Find the value of the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) p-value = State…
The article “Credit Card Activity for College Students“ ( wallethub.com/edu/credit-card-statistics-for-college-students/25535/, Retrieved February 13, 2018)estimated that in 2013, 62% of undergraduates with credit cards pay them off each month and that the average outstanding balance on undergraduates’ credit cards is $650. These estimates were based on an online survey of 800 college students. What additional information would you want in order to decide if it is reasonable to generalize the reported estimates to the population of all undergraduate students?

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