9. The investments in different companies as given below. You find A.M. Investments MoreMore More More More More More More More (Rs. In lakhs) No. of companies than than than than than than than than than 25 30 35 40 45 50 55 60 65 160 148 121 | 100 70 40 25 10 4
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- Suppose a company charges a premium of $150 per year for an insurance policy for storm damage to roofs. Actuarial studies show that in case of a storm, the insurance company will pay out an average of $8000 for damage to a composition shingle roof and an average of $12,000 for damage to a shake roof. They also determine that out of every 10,000 policies, there are 7 claims per year made on composition shingle roofs and 11 claims per year made on shake roofs. What is the company’s expected value (i.e., expected profit) per year of a storm insurance policy? What annual profit can the company expect if it issues 1000 such policies? Determine the probability of a composition shingle roof claim out of 10,000 = ______ Determine the probability of a shake roof claim out of 10,000 = ______ How many claims are made out of 10,000? = _______ What is the probability of no claims out of 10,000? = _______ How much does each shingle roof claim cost the company, don’t forget each person pays $150…A manufacturer of exercise equipment knows that 15% of their products aredefective. They also know that only 35% of their customers will actually use the equipment in the first year after it is purchased. If there is a one-year warranty on the equipment, what proportion of the customers will actually make a valid warranty claim?The owner of a pet store is trying to decide whether to discontinue selling specialty clothes for pets. She suspects that only 10% of the customers buy specialty clothes for their pets and thinks that she might be able to replace the clothes with more interesting and profitable items on the shelves. Before making a final decision she decides to keep track of the total number of customers for a day, and whether they purchase specialty clothes for their pet. a) Assuming the pet store owner is correct in thinking that only 10% of her customers purchase specialty clothes for their pets, how many customers should she expect before someone buys a garment for their pet? b) What is the probability that she does not sell a garment until the 5th customer? c) What is the probability that exactly 4 of the first 10 customers buy specialty clothes for their pet? d) What is the probability that at least 3 of the first 35 customers buy specialty clothes for their pet?…
- 2. A research Development department at Oda manufacturing company determines that 20% of people who purchase their products during any given month will not purchase the next month. On the other hand, 30% of the people-who could not purchase during any given month will purchase in the next month. On a population of 1000 people 100 purchased their products this month. How many will purchase their product. A. In the long run?2. A research Development department at Oda manufacturing company determines that 20% of people who purchase their products during any given month will not purchase the next month. On the other hand, 30% of the people who could not purchase during any given month will purchase in the next month. On a population of 1000 people 100 purchased their products this month. How many will purchase their product. 1. In the long run?in a certain city, 60% of the heads of household own the house in which they reside, and 80% of the heads of the household have full-time employment when considering what percentage of heads of household both own their home and have a full-time job, a student estimates that 48% of heads of household fit both requirements, stating that (0.60) (0.80)=0.48. is this student correct in his approach?
- Suppose that a consumer cannot vary hours of work as he or she chooses. In particular, he or she must choose between working q hours and not working at all, where q > 0. Suppose that dividend income is zero, and that the consumer pays a tax T if he or she works, and receives a benefit b when not working, interpreted as an unemployment insurance payment. a. If the wage rate increases, how does this affect the consumer’s hours of work? What does this have to say about what we would observe about the behavior of actual consumers when wages change? Explained also with the graph b. Suppose that the unemployment insurance benefit increases. How will this affect hours of work? Explain the implications of this for unemployment insurance programs. Explained also with the graphThe accompanying table shows trade deficits for a certain country (in billions of dollars) to 19 other countries for a recent year. Complete parts (a) through (c) below. Trade Deficits (in billions of dollars) Country A 279.5 Country L 65.0 Country B 198.0 Country M 44.6 Country C 48.4 Country N 31.8 Country D 25.0 Country O 29.0 Country E 41.6 Country P 43.7 Country F 99.6 Country Q 28.1 Country G 29.5 Country R 15.0 Country H 13.5 Country S 10.6 Country I 23.9 Country J 13.5 Country K 52.9 (a) Find the mean and median of the trade deficits. The mean of the trade deficits is billion.
