Suppose that 2 out of every 10 homeowners in the state of California has invested in earthquake insurance. Suppose 20 homeowners are randomly chosen to be interviewed. USE SALT (a) What is the probability that at least one had earthquake insurance? (Round your answer to three decimal places.) (b) What is the probability that four or more have earthquake insurance? (Round your answer to three decimal places.) (c) Based on the empirical rule within what limits would you expect the number of homeowners insured against earthquakes to fall approximately 95% of the time? (Round your answers to the nearest whole number.) to
Suppose that 2 out of every 10 homeowners in the state of California has invested in earthquake insurance. Suppose 20 homeowners are randomly chosen to be interviewed. USE SALT (a) What is the probability that at least one had earthquake insurance? (Round your answer to three decimal places.) (b) What is the probability that four or more have earthquake insurance? (Round your answer to three decimal places.) (c) Based on the empirical rule within what limits would you expect the number of homeowners insured against earthquakes to fall approximately 95% of the time? (Round your answers to the nearest whole number.) to
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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![**Educational Exercise: Probability and Insurance**
Suppose that 2 out of every 10 homeowners in the state of California have invested in earthquake insurance. Suppose 20 homeowners are randomly chosen to be interviewed.
### Tasks
(a) **What is the probability that at least one had earthquake insurance?**
*Round your answer to three decimal places.*
\[ \text{Answer: } \_\_\_\_ \]
(b) **What is the probability that four or more have earthquake insurance?**
*Round your answer to three decimal places.*
\[ \text{Answer: } \_\_\_\_ \]
(c) **Based on the empirical rule, within what limits would you expect the number of homeowners insured against earthquakes to fall approximately 95% of the time?**
*Round your answers to the nearest whole number.*
\[ \text{Answer: } \_\_\_\_ \text{ to } \_\_\_\_ \]
#### Instructions:
Use the provided "USE SALT" tool to assist in calculations and understanding of empirical rules and probability distributions.
Note: In answering these questions, consider utilizing statistical methods such as the binomial probability distribution to determine probabilities, and apply the empirical rule for estimating expected outcomes within a normal distribution context.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9175f245-2e1a-4def-805b-da74e3897838%2F52bee357-9d79-405a-9fc1-bffc47f2b383%2Fp1cbruk_processed.png&w=3840&q=75)
Transcribed Image Text:**Educational Exercise: Probability and Insurance**
Suppose that 2 out of every 10 homeowners in the state of California have invested in earthquake insurance. Suppose 20 homeowners are randomly chosen to be interviewed.
### Tasks
(a) **What is the probability that at least one had earthquake insurance?**
*Round your answer to three decimal places.*
\[ \text{Answer: } \_\_\_\_ \]
(b) **What is the probability that four or more have earthquake insurance?**
*Round your answer to three decimal places.*
\[ \text{Answer: } \_\_\_\_ \]
(c) **Based on the empirical rule, within what limits would you expect the number of homeowners insured against earthquakes to fall approximately 95% of the time?**
*Round your answers to the nearest whole number.*
\[ \text{Answer: } \_\_\_\_ \text{ to } \_\_\_\_ \]
#### Instructions:
Use the provided "USE SALT" tool to assist in calculations and understanding of empirical rules and probability distributions.
Note: In answering these questions, consider utilizing statistical methods such as the binomial probability distribution to determine probabilities, and apply the empirical rule for estimating expected outcomes within a normal distribution context.
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