pay an amount of money M if some event A occurs within a year. If the insurance company estimates that M will occur within a year with probability p, what should it charge the customer so that its expected profit will be 10 percent of M?

Q: IV. PROBABILITY A. A Coin and a Die are tossed together, what is the Probability that a Head e on…

A: Given data: Two cards are drawn successively from a deck of 52 cards, To find: what is the…

Q: Find the probability of the indicated event if P(E)= 0.30 and P(F) = 0.55. Find P(E or F) if P(E and…

A: The provided information are: P(E)=0.30 P(F)=0.55 P(E and F)=0.15 To calculate the P(E or F) use the…

Q: You have relatives coming for dinner this weekend.  The probability that your uncle Josiah will show…

A: given data  event A: uncle josiah show up B : aunt beatrice show up   P(A) = 0.48 P(B) = 0.43 P(A∩B)…

Q: You Foll six sided die. If you roll a 6, you win $7. If you roll a 4 or 5, you win $3. Otherwise,…

A:

Q: At a particular factory, a manager knows that on weekends 5% of all welds will be substandard and…

A: Given, Population proportion p = 5% = 0.05 q = 1-p = 1-0.05 = 0.95 Sample size = n = 300 By using…

Q: An insurance company sells a $9,000, nine-year term life insurance policy to an individual for $460.…

A: The objective of this question is to calculate the expected return for the insurance company from…

Q: A carton weighing 250 pounds breaks 1 out of every 5 tables it is placed on. If a carton weighs 300…

A: we only know that a carton weighing 250 pounds breaks 1 out of every 5 tables it is placed on. We…

Q: Between the hours of 2 and 4 p.m. the average number of phone calls per minute coming into the…

A: For the given data using poisson distribution Find the probability

Q: A university reports that 60% of its students enroll there as freshmen, while the rest transfer in…

A: It is required to find the probability that a former student who graduated from the university was a…

Q: Find the probability of the indicated event if P(E) = 0.20 and P(F) = 0.45. Find P(E or F) if P(E…

A:

Q: Jack is a randomly selected member of a large group in which 2% are drug users. Jack tests positive…

A: Let us define some events A : Jack uses drug. B : Jack does not use drug. E : Jack tests positive.…

Q: Suppose you want to play a carnival game that costs 5 dollars each time you play. If you win, you…

A: The ticket cost of the game is 5 dollars.

Q: Researchers are concerned about the rise in drinking behaviors among adolescents aged 13- 17 in a…

A: From the provided information, The research team estimates the prevalence of such behaviors is 17%…

Q: A. A recent study found that 2% of Americans admitted they had driven while intoxicated in the prior…

A: Given: X=People driving under the influence of alcohol Population size n=10000 Probability p=0.02…

Q: Suppose the probability of Harry not attending ceremony is 1 The probability of Harry and Chris…

A: