A man purchased a $22,000, 1-year term-life insurance policy for $400. Assuming that the probability that he will live for another year is 0.982, find the company's expected gain.$

Q: Richie’s Insurance Company offers a $250,000 life insurance policy for a premium of $750 per year.…

A: Expected value :- E(X) = ∑xP(x)

Q: During a Kansas tornado season, the probability a local grocery store experiences power outage on…

A: b) For the first time on Wednesday: Given for the 1st time on Wednesday which means there is no…

Q: A grab bag contains 12 packages worth $0.80, 15 packages worth $0.40 and 25 packages worth $0.30.…

A: A garb contains totally 52 packages in which 12 packages worth $0.80, 15 packages worth $0.40 and 25…

Q: what is the probability that you will live forever? what is the probability that an octopus will…

A: There are various types of events. One of them is impossible events. Events which are sure not to…

Q: Suppose you manage the demand for a towing company in Little Rock, Arkansas. On a usual day your…

A: Here Given Company gets five request Per day So Here we can Use Poisson distribution

Q: Use a formula to determine the expected probability of an event

A: we have to tell among which of the option describes the theoretical proability.

Q: The superintendent of a large school district, having once had a course in probability and…

A: We need to find the margin of error, MOE. MOE=zcritical valueλ^n From the given information,…

Q: How do you know if a probability is mutually exclusive or not?

A:

Q: If records indicate that 2 houses out of 1000 are expected to be damaged by fire in any year, what…

A: Let us denote X= number of damaged houses Given that the probability of a damaged house= 2/1000 =…

Q: Motorists arrive at a Gulf gas station at the rate of two per minute during morning hours. a) What…

A:

Q: operator meets his production quota, what is the probability that he (or she) attended the program?…

A: here define events operator meet the production quota = M training attended by operator = T here…

Q: d. What type of object is most likely to be involved in a fatal collision? Select your answer - What…

A: d) From table we see that, number of collision due to shrubbery/ tree is maximum which is 2585.…

Q: (c) If a bank receives on the average of 6 bad cheques per day. Find the probability that it will…

A: Solution

Q: A fruit retailer complains to a wholesaler that 60 percent of the boxes of apples shipped to the…

A: Given:X: Number of boxes contain rotten applen: Sample size = 15p: Proportion of the boxes of apples…

Q: An office receives 20 faxed orders every two hoursWhat is the probability that more than 12 minutes…

A: On an average, an office receives 20 faxed orders every two hours. To find: Probability that more…

Q: What is the probability that your best friend will order fries with her special?

A: Probability of an event occurring is defined as the ratio of the number of favorable outcomes to the…

Q: What's the probability that she eats ramen tomorrow?

A:

Q: Given that a Condo is purchased, what is the probability the mortgage is Adjustable?

A: The given summarized table is, From the table,  The probability of condo is purchased is,

Q: If the correct odds in favor of Johnny's winning a race are 6 to 5, what is the probability that…

A:

Q: If the probability that the Islanders will beat the Rangers in a game is 1/3, what is the…

A: Solution: Let X be the number of games Islanders will win in a against the Rangers and n be the…

Q: What is the probability that none is 1.

A: Answer: n = 9 cards

Q: A medication states that the odds of having an allergic reaction are 1 in 50. What is that…

A: Given that, A medication states that the odds of having an allergic reaction are 1 in 50. Therefore,…

Q: If the probability of being hit by lightning is 1 in 1,000,000, what is the probability of not…

A: Given that , P (being hit by lightning) = 1/1000000 =0.000001

Q: Serious worker injuries at a coal mining company average 2.7 per year.  Given that safety conditions…

A: # Serious worker injuries at a coal mining company average 2.7 per year.  Given that safety…

Q: In a game of chance, the probability of winning a $50 prize is 40 percent, and the probability of…

A:

Q: Suppose you flip a fair coin twice. What is the probability that the outcome is the same both times?…

A: Consider the head surface of the coin is H and the tail surface is T. The coin flips twice.…

Q: In Our daily life use of probability? give some example?

A: Example 1: In the news, we hear the probability of raining today / sunny today/ cloudy today.  This…

Q: 1. Assume that the current price of Microsoft stock is $28 per share. What is the probability that…

A: The given current price of the stock is S=28 Let K=35 To calculate the probability of the price of…

Q: If records indicate that 14 houses out of 1000 are expected to be damaged by fire in any year, what…

A: Let us denote X= number of damaged houses Given that the probability of a damaged house= 14/1000 =…

Q: d. What is the probability that her trip will take exactly 50 minutes?

A: here given ,  The time it takes for Anna to travel between her home and her job is uniformly…

Q: At a store, the average number of customers entering is 10 persons per half an hour. What is the…

A: Solution: Let X be the number of persons enter within 10 minutes. From the given information,…

Q: d. What is the probability that two or more online retail orders will turn out to be fraudulent?

A: Let p = probability of being fraudulent. Given that p = 0.08 Let X denote the number of fraudulent…

Q: Given that every ninth person in line will get a coupon for a free box of popcorn at the movies,…

A: Given that every ninth person in line will get a coupon for a free box of popcorn at the movies.…

Q: Find the probability of an event E if the odds for E is equal to the odds against

A: Odds of an event:The odds an event is given by the ratio of the probability of the event to its…

Q: While watching a game of Champions League football in a cafe, you observe someone who is clearly…

A: Define some events A: person is born within 25 miles of Manchester B: person is not born within 25…

Q: At Frosty Freeze, 5 of the last 20 sundaes sold had nuts. What is the experimental probability that…

A: 5 have nuts 15 have not nuts 20 total sundaes P(next sold have nuts) = ?

Q: Consider the tossing of a pair of dice. Find the probability that the sum of the two die is 6.…

A: The possible outcome for a pair of dice is 36. which is as follows: (1,1), (1,2), (1,3), (1,4),…

Q: In a proposed business venture, a company estimates that there is a 60% chance the company will make…

A: Introduction: Hey there! Thank you for the question. As you have posted multiple questions,…

Q: a If a family now lives in an urban location, what is the probability that it will live in an urban…

A: Since there are multiple parts first part is answered step by step. Kindly repost for more help.

Q: 1 be a probability? Can the value

A: Yes

Q: What is the probability that it rains tomorrow?

A: Here define events and draw tree diagram

Q: A new county hospital is attempting to determine whether it needs to add a particular specialist to…

A: The given data are: Probability of patient being sick is 5% Total number of patients coming on each…

Q: Richies insurance company offers a 250,000 life insurance policy for a premium of $750 per year. If…

A: Let X be the net value of the policy to the insurance company. X be the discrete random variable.…

Q: At a local car dealership, 100 people were injured during the end of year celebration event from…

A: Given that at the closing day, total people attended the event = 12500The total people got injured…

Q: Find the probability that he will arrive on time at school. If he arrived on time at school today,…

A: Given : P(catching the 7 am bus) = 0.8 P(not catching the 7 am bus) = 0.2 Now, P(arrive on time |…

Q: Find the probability that the person prefers hiking on the coastline given that the person is a…

A: The given data set is: Sex The Coastline Near Lakes and Streams On mountain peaks Total…

Q: What is the probability that passing grade?

A: Given: To find: 1).Probability of choosing female got pass marks 2).Probability of choosing  male…

Q: d) If gender does not have any effect on employment, calculate the probability that the graduate…

A: The contingency table is   Female Males Total Employed 30 10 40 Unemployed 20 40 60 Total…

Q: Sweetwater & Associates write weekend trip insurance at a very nominal charge. Records show that the…

A:

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.