help with solving An insurance company has written 50 policies for $90,000, 100 policies for $30,000, and 250 policies for$7500 for people of age 20. If experience shows that the probability that a person will die at age 20 is0.0014, how much can the company expect to pay out during the year the policies were written?The company can expect to pay out $ over the year after the policies were written.(Type an integer or a decimal.)

here given , An insurance company has written 50 policies for $90,000, 100 policies for $30,000, and…

Answered: The company can expect to pay out $…

Math

Probability

The company can expect to pay out $ (Type an integer or a decimal.) over the year after the policies were written.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section: Chapter Questions

Problem 15CR

See similar textbooks

Related questions

Q: A company wants to evaluate its attrition rate, in other words, how long new hires stay with the…

A: Given:

Q: 8. Suppose one is told that the time, one has to wait (in mins.) for a bus on a certain bus stop is…

Q: e EC QP] × U di © T

A: Visitors from Jan Feb Mar Apr May Jun Tot SA 15 8 C D 9 5 66 Abroad A 3 13 26 4 6 62 Total 25…

Q: 2.5.12.) The length of time that an individual talks on a long-distance telephone call has been…

A: Given pdf f(x)=ɑe-1/5x x≥0

Q: Compute the total number of sets (of size 5) containing exactly 2 elements from X and 3 elements…

Q: Let X denote the amount of time a book on two-hour reserve is actually checked out, and suppose the…

A: As per our guidelines we are supposed to answer only 3 sub-parts of any questions so i am solving…

Q: Heights of Swedish men follow a normal distribution with mean 72 in and standard deviation 5 in. How…

A: Given Population mean μ=72, standard deviations σ=5 Let X be the Heights of Swedish men follow a…

Q: Calculate the means and standard deviations of:37, 26, 19, 21, 19, 25, 17 6.9:3 a O .b O 2.414:3…

A: given data x x2 17 289 19 361 19 361 21 441 25 625 26 676 37 1369 ∑x =…

Q: Six tissues are extracted from an ivy plant infested by spider mites. The plant in infested in 19%…

Q: The given table indicates the transactions for one teller for one day. Letting C represent "cashing…

A: We have given that Transaction cash check (C) No check (C') Totals Make deposit (D) 23 14 37…

Q: For a standard normal distribution, find: P(-0.87 z<-0.03)

A: GivenP(-0.87<z<-0.03)

Q: Dan tosses a fair pyramid die that has four sides 3 times. What is the probability he rolls at…

Q: p(x) represents the probability density function of variable x. Four samples of delta function are…

A: The probability density function of a random variable x is given in graphical form. The random…

Q: 2.5.13.) Let T be the life length of a mechanical system. Suppose that the cumulative distribution…

Q: 20 people out of 500 people are gonna be chosen as officials. They need : one president one…

A: Note: As per guidelines we will solve the first question only, please repost other questions for…

Q: According to PSA, the probability of a randomly selected 90-year old Filipino survives for at least…

A: given data probability that a randomly selected 90 year old filipino survive for atleast another…

Q: (a) There are twelve cans of soda in each case. If I buy five cases of soda, how many cans will I…

A: Since you have posted a question with multiple subparts, we will solve first three subparts for you.…

Q: A coin is tossed three times. An outcome is represented by a string of the sort HTT (meaning a head…

A: Probability: A probability informs the happening of a trial in a study or observation. For example,…

Q: Number of circular permutations of different .!things taken all at a time is (n-1)

Q: The probability that an entering college student will graduate is 0.4. Determine the probability…

A: From the provided information, Sample size (n) = 5 Probability that an entering college student will…

Q: FIGURE 7.4 Sampling distribution of for n=2 dice .30- 8

A: Simulation code If a single die is tossed the probability of chance of occurrence = 16 If two dice…

Q: The error involved in making a certain measurement is a continuous rv X with the following cdf. 0 x…

A: Note: According to Bartleby guidelines expert solve only one question and maximum 3 subpart of the…

Q: In the following diagram, each switch is in a closed state with probability p, and the open state…

A: As shown the circuit has 4 designated paths to pass the current from A to B Probability of a closed…

Q: Ten people are gathered to form a committee of size 4. If there are 6 men and 4 women in the group…

A: Given: n(total) = 10 n(women) = 4 n(men) = 6 n(chosen) = 4 n(women chosen) = 3

Q: 14. The number of cars washed in a certain car wash station is a Poisson random variable with a mean…

Q: SHOW AND EXPLAIN ALL WORK!!! Sam purchased a new iPhone. He knows that each time the phone is…

A: Given information: Phone is charged the capacity of the battery decreases 2%.

Q: The following table summarizes the number of deceased beetles under autolysis (the destruction of a…

Q: e) Find the mean median ed (6) X ~ Bi (np). If the mean is 102 cand o² = 0.12 Find the pr(x > 1)

Q: Having the text (AAABAC BCCBBAAAD BBBC D). Find The text probability P(C) O a. 7/20 O b. 2/20 O C. O…

A: Here text is given We have to calculate Probability for letter c P(c) =? Probability = favorable…

Q: A sample of 42 chemists from Washington state shows an average salary of $39,420 with a standard…

Q: Suppose that blood chloride concentration (mmol/L) has a normal distribution with mean 107 and…

A: Introduction: Here we need to find probabilities associated with normal distribution.

Q: 3. A waiter captain must allocate 24 tables among four waiters. In how many ways can he make this…

A: Answer: There are 24 tables and 4 waiters. a) There are no restriction which implies that each…

Q: Suppose that a 7% discount is independently applied to Web orders for clothing with probability…

Q: The data below shows the SAT scores of 30 students at Martin Luther King High School in Florida.…

A: Given: 1561 1554 1536 1531 1523 1518 1515 1511 1506 1500 1499 1493 1490…

Q: (11) If f(x) is a p.d.-fand fla)=√ at ² 04x61 Ind the value of a ae 12x ≤2 O elsewhere

Q: Nancy is playing cards. What is probability of pulling a diamond or 4 of clubs?

A: nancy is playing cards. p(pulling diamond or 4 of clubs) = ? there are 13 cards of diamonds and 1…

Q: (b) You have three, six-sided die that you use to create a geometric series by randomly throwing the…

A: Sum of infinite geometric series = a1-r where a is the first term and r is the common ratio.

Q: 8) The probability that Olivia goes to Queen's university is 0.25. The odds in favor of Alice going…

A: given data event A: olivia goes to queen's univesity event B: alice goes to queen's univesity…

Q: A research team has developed a face recognition device to match photos in a database. From…

A: Given that: The recognition accuracy is 87% and the trials are independent. Let p denote the…

Q: Q2 - A man gets rid of his car every year and buys a new car. If his car is a Jeep, he sells it and…

A: (Dear student, According to Bartleby rules, we can answer at most 3 sub parts at once. If you want…

Q: π ). The pair (μ(π ), σ (π )) trace out a curve in the plane as π varies from 0 to 1. Plot this…

A: For x1 variable μ1 = 1 and σ1 = 0.1' For x2 variable μ2 = 0.8 and σ2 = 0.12 ρ = −0.8. 0.1

Q: The code 39 is a common bar code system that consists of narrow and wide bars (black) separated by…

A: Solution: There are 5 bars out of which exactly 2 are allowed to be white.

Q: For the dinner special at a restaurant, the customer must choose an appetizer, a salad, an entree, a…

Q: 2. Machined parts are classified according to the condition of the edge. On average, 15% of machined…

A: Given, 15% of the machined parts are coarse, 35% are moderate and 50% are smooth. So, if a machined…

Q: (g) P(-1.70 sz≤ 2.00) 3 2 (h) P(1.46 ≤ Z ≤ 2.50) (1) P(1.70 s2) (1) P(IZI ≤ 2.50)

A: We will use Excel function to find the required probabilities based on Standard Normal distribution.

Q: The graph shows the probability density function for a car brand that has a mean fuel efficiency of…

A: Given: Meanμ=26standard deviation(σ)=2.4

Q: i want to repost and answer remaining question

A: As per our guidelines we are supposed to answer only 3 sub-parts of any questions so i am solving…

Q: 7. Suppose that P (X≥ x) is given for a RV X (of the contineous type) for all x. Find the PDF in…

Q: machine consists of two components: A and B. The machine needs both components to operate. As soon…

A: Given that, A machine consists of two components: A and B. The machine needs both components to…

Q: Problem 8 Let X₁, X2,..., X₁, be i.i.d. random variables with = 1 and o² = 2. Let S = X₁ + + X₂ and…

A: Given that X1, X2, . . ., Xn be i.i.d. random variables with μ=1 and σ2=2 Sn=X1+ . . .+Xn and An=Snn

Question

help with solving

An insurance company has written 50 policies for $90,000, 100 policies for $30,000, and 250 policies for
$7500 for people of age 20. If experience shows that the probability that a person will die at age 20 is
0.0014, how much can the company expect to pay out during the year the policies were written?
The company can expect to pay out $ over the year after the policies were written.
(Type an integer or a decimal.)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here