Insurance An insurance company insures a person’s antique coin collection worth $20,000 for an annual premium of $300. If the company figures that the probability of the collection being stolen is 0.02, what will be the company’s expected profit?

Q: In Hawaii, the rate of motor vehicle theft is 384 thefts per 100,000 vehicles. A large parking…

A: Computation of mean, λ:The mean value is calculated as follows:

Q: Polling, part II According to Pew Research, the contactrate (probability of contacting a selected…

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Q: movie theater surveyed its matinee customers about purchased concessions.  What is the probability…

A: given Venn diagram of the data of local movie theatre surveyed its matinee customer about purchased…

Q: Statistics show that about 42% of Americans voted in the previous national election. If three…

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Q: A car insurance policy costs P7000 per year from an insurance firm. The insurer shall pay P10,000…

A: Policy cost is P 7000.  Accident Pay Probability Minor Accident 10000 0.20 Big accident 50000…

Q: Exercise: 1. A couple plans to have children until they have exactly 3 boys. Suppose that the…

A: Given :- A couple plans to have children until they have exactly 3 boys. Suppose that the…

Q: Nathan had an infection and his doctor wanted him to take penicillin. because nathans father and…

A: In the question it is given that - The chances of Nathan to have disease=75% Accuracy of test=98% We…

Q: University Data Not Receiving Total Recelving Financial Aid Financial Aid Undergraduates 4222 3898…

A: Given: To determine: The probablity that a student recieves an aid and is a graduate.

Q: A casino features a game in which a weighted coin is tossed several times. The table shows the…

A: Let X denote the payout amount with the corresponding probability p(x). Then we have  S.No.…

Q: A Test Engineer is testing the chips across the wafer. The engineer encounters a defective chip.…

A: It is given that the Probability of the wafer is defective, is: p=31000=0.003

Q: Experience has shown that one out of every five customers who place an order with an internet…

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Q: Redundancy Using Braun battery-powered alarm clocks, the author estimates that the probability of…

A: a).An author estimates that the probability for Braun battery-powered alarm clocks failing on any…

Q: Insurance: You purchase a $100,000 life insurance policy for a $300 premium each year. If the…

A:

Q: Sick kids Seventy percent of kids who visit a doctor havea fever, and 30% of kids with a fever have…

A: It is given that the probability of kids who visit a doctor have a fever is 0.70 and the probability…

Q: True or False: In a probability model, the sum of the probabilities of all outcomes must equal 1.…

A: Given that,A probability model, the sum of the probabilities of all outcomes must equal 1.

Q: Experience has shown that one out of every four customers who place an order with an internet…

A: From the provided information, Experience shows that one out of every four customers who place an…

Q: Confidence Level Tommy the Dunker’s performance on the basketball court is influenced by his state…

A: If he scores then he is twice as likely to score as not, means he has a 2/3 chance of scoring and a…

Q: Ashley entered a raffle at a festival and hopes to win a new TV. The odds in favor of winning a new…

A: Note: Hi there! Thank you for posting the question. As there are several independent questions,…

Q: |Recent difficult economic times have caused an increase in the foreclosure rate of home mortgages.…

A:

Q: drawing a single cared from a standard deck of cards. What is the probability that you don't get a…

A: The number of cards n=52 The number of face cards x=40 The probability is computed using the…

Q: University Data Receiving Not Receiving Financial Aid Financial Aid Undergraduates 4222 3898…

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Q: According to the Bureau of Labor Statistics report, while the national unemployment rate is 8.5%, it…

A: Given that  P(educated)= 0.27 P(unemployed|educated) =0.043 P(educated|unemployed) =?

Q: Jamal Crawford of the National Basketball Association’s Portland Trail Blazers is the best…

A: (b) Obtain the probability that he will make at least one shot. The probability that he will make at…

Q: In Hawaii, the rate of motor vehicle theft is 571 thefts per 100,000 vehicles. A large parking…

A:

Q: Insurance An insurance company insures a person's antique coin collection worth $20,088 for an…

A: Income of an insurance company is the an annual premium =300 antique coin collection value=$20000…

Q: Rolling two dice, what is the probability that at least one die is a 3?

A: Given Two dice are rolledTotal no.of outcomes= 62=36

Q: Recent difficult economic times have caused an increase in the foreclosure rate of home mortgages.…

A: Given problem is binomial distribution. p.m.f. of binomial distribution is given by,   P(X=x)=nCXpx…

Q: Air Bag Safety   According to a study conducted by the a public health school, a child seated in the…

A: Given data According to study conducted by public health school  a child seated in the front seat…

Q: In Hawaii, the rate of motor vehicle theft is 707 thefts per 100,000 vehicles. A large parking…

A: Given: Number of parking permits issued = 533 Rate if motor cycle theft is 707 per 1, 00,000 To…

Q: Life insurance. You might sell insurance to a 20-year-old friend. The probability that a man aged 20…

A: The probability that a man aged 20 will die in the next year is about 0.0007. You decide to charge…

Q: 1990s Internet Stock Boom   According to an article, 22% of Internet stocks that entered the market…

A: Let, X= number of stocks that would end up trading at or above their initial offering price Given…

Q: Air Bag Safety According to a study conducted by the a public health school, a child seated in the…

A: Let the probability that the child gets killed in an accident when the airbags did not deploy be x.…

Q: The publisher decided to publish a new book. He is going to sell one copy for $30. The cost of…

A: From the provided information, The cost of publishing is $25,000 for 2,000 copies. The probability…

Q: Sick cars Twenty percent of cars that are inspected havefaulty pollution control systems. The cost…

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Q: Apple company sells their phone at an average rate of 1 per day. Estimate the probability that the…

A: Solution-: We want to find, P[the company sells more than 10 phones in a week]=?

Q: drawing a single cared from a standard deck of cards. What is the probability that you don't get a…

A: Total number of cards in a deck = 52 Total  queen cards in a deck = 4

Q: An important component of a desktop or laptop personal computer (PC) is a microchip. The proportion…

A: Given: PS1=0.17PS2=0.03PS3=0.09PS4=0.22PS5=0.11PS6=0.16PS7=0.22…

Q: In Hawaii, the rate of motor vehicle theft is 860 thefts per 100,000 vehicles. A large parking…

A:

Q: Redundancy in Computer Hard Drives It is generally recognized that it is wise to back up computer…

A: a)The probability of a hard disk failure during a year, if all the data is stored in a single…

Q: Air Bag Safety   According to a study conducted by the a public health school, a child seated in the…

A: Let, define the events as follows: S=Not wearing seatbelts A= Airbag deployed Given, PA= 0.27

Q: An oil company conducts a geological study that indicates that an exploratory oil well should have a…

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Q: Trevor buys a bag of cookies that contains 8 chocolate chip cookies, 4 peanut butter cookies, 9…

A: There are 8 chocolate chip cookies, 4 peanut butter cookies, 9 sugar cookies and 7 oatmeal cookies.

Q: Statistics show that about 42% of Americans voted in the previous natiohal If three Americans are…

A: The sample size n is 3 and p=0.42.

Q: You are picking marbles out of a bag without looking. The contents of the bag are described in the…

A: We have given that  There are four coloured marbles like black, yellow, purple and red.

Q: A construction company is planning to bid on a building contract. The bid costs the company $1100.…

A: The bid cost of the company $1100. The probability that the bid is accepted is 14. In case if a bid…