The cost of an automobile insurance policy depends on many factors, including marital status, where you live, credit score, age of the car, and driving history. Suppose that for some driver category, the probability distribution for the random variable Y, the amount (in dollars) of a collision deductible on a random automobile policy, is given in the table. y 100 200 500 1000 P(y) 0.05 0.11 0.21 0.25 0.38 Suppose two policies are selected at random. What is the probability that at least one has a collision deductible of $500 or less? (Use decimal notation. Give your answer as an exact number.) probability:
The cost of an automobile insurance policy depends on many factors, including marital status, where you live, credit score, age of the car, and driving history. Suppose that for some driver category, the probability distribution for the random variable Y, the amount (in dollars) of a collision deductible on a random automobile policy, is given in the table. y 100 200 500 1000 P(y) 0.05 0.11 0.21 0.25 0.38 Suppose two policies are selected at random. What is the probability that at least one has a collision deductible of $500 or less? (Use decimal notation. Give your answer as an exact number.) probability:
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter9: Counting And Probability
Section9.3: Binomial Probability
Problem 33E: Sick leave probability that a given worker at Dyno Nutrition Will call in sick on a Monday is 004....
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Transcribed Image Text:The cost of an automobile insurance policy depends on many factors, including marital status, where you live, credit score,
age of the car, and driving history. Suppose that for some driver category, the probability distribution for the random variable
Y, the amount (in dollars) of a collision deductible on a random automobile policy, is given in the table.
100
200
500
1000
p(y)
0.05
0.11
0.21
0.25
0.38
Suppose two policies are selected at random. What is the probability that at least one has a collision deductible of $500 or less?
(Use decimal notation. Give your answer as an exact number.)
probability:
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