You are given:ClassNumber ofClaim Count ProbabilitiesInsureds1341300020001000A randomly selected insured has one claim in Year 1.Determine the expected number of claims in Year 2 for that insured.(A)1.00(В)1.25(C)1.33(D)1.67(E)1.75

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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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The graph of the discrete probability to the right represents the number of live births by a mother 42 to 46 years old who had a live birth in 2015. Complete parts (a) through (d) below. (...) A 0.30- 0.25- 0.20- 0.15- 0.10- 0.05- 0.00- 0.232 1 0.270 2 0.472 0.114 0.098 0.021 0.039 0.054 ? 3 4 5 Number of Live Births 6 8 (a) What is the probability that a randomly selected 42- to 46-year-old mother who had a live birth in 2015 has had her fourth live birth in that year? (Type an integer or a decimal.) (b) What is the probability that a randomly selected 42- to 46-year-old mother who had a live birth in 2015 has had her fourth or fifth live birth in that year? (Type an integer or a decimal.) (c) What is the probability that a randomly selected 42- to 46-year-old mother who had a live birth in 2015 has had her sixth or more live birth in that year? (Type an integer or a decimal.) (d) If a 42- to 46-year-old mother who had a live birth in 2015 is randomly selected, how many live births…
Theoretical probabilities are A. Relative frequency at which an event happens after infinitely many repetitions. B. relative frequencies which an event happens after a finite numbers of repetitions. C. long-run relative frequencies. D. Short-run relative frequencies. E. Both A and C F. Both B and D
Q3. Suppose that the market default rate for bonds is given by 0.01, i.e., the probability the market believes that the company may not be able to pay the owner of the bonds is 0.01. Now a credit default swap (CDS) is sold at fair price $ 0.01 per unit. Ackman expects that the true default rate is 0.05, not 0.01. Ackman bought 67 billion units of CDS at the price $ 0.01 per unit. a. Suppose that Ackeman's expectation about the default rate is not correct. I.e., the true default rate for bonds is given by 0.01. Find the cost of the purchase. Find the expected payoff. Find the profit. b. Suppose that Ackeman's expectation is correct. Find the cost of the purchase. Find the expected payoff. Find the profit.
The probability that a trainee will remain with a company is 0.6. the probability that am employee earnsbmore than k10,000 per month is 0.5. the probability that an employee who is a trainee remained with the company or who earns more than k10,000 per month is 0.7. what is the probability that an employee earns more than k10,000 per month given that he is a trainee who stayed with the company
Suppose a life insurance company sells a $230,000 one-year term life insurance policy to a 20-year-old female for$240. The probability that the female survives the year is 0.999463. Compute and interpret the expected value of this policy to the insurance company.
Find the probability P(Ec) if P(E)=0.17.
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1

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You are given: Class Number of Claim Count Probabilities Insureds 1 3 4 1 3000 2000 3 1000 A randomly selected insured has one claim in Year 1. Determine the expected number of claims in Year 2 for that insured. (A) 1.00 (В) 1.25 (C) 1.33 (D) 1.67 (E) 1.75