The probability that a 50-year-old man will survive a fixed length of time is 0.995. An insurance company will sell him a $20,000 life insurance policy for this length of time for a premium of $200. What is the expected gain for the insurance company?

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Q: q1-  Collina's Italian Cafe in Houston, Texas, advertises that carryout orders take about 25…

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Q: One thousand tickets are sold at $1 each for a color television valued at $350. What is the expected…

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A: The probability that an 80-year-old male in the U.S. will die within one year is approximately…

Q: A $500,000 term life insurance policy sell for a premium of $900.  If the probability of living…

A: The formula to find the expected value is given below:

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Q: A 40-year-old man in the U.S. has a 0.245% risk of dying during the next year . An insurance company…

A: In this case, The probability of dying=0.245%…

Q: Customers arrive at the service counter at the rate of 15 per hour. What is the probability that the…

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Q: The weatherman has been correct on the temperature two out of the past 30 days what is the…

A: From the given data:   Let X be the number of success x=2   Let N be the number of trials n=30

Q: Find the mean of this probability distribution. Round your answer to one decimal place.

A: The mean of the probability distribution is, μ=Ex=∑xPx=0×0.25+1×0.2+2×0.05+3×0.5=0+0.2+0.10+1.5=1.8

Q: The probability that a person buys a car from a particular dealership after a test-drive is 25%.…

A: probability mass function of B.D is = f ( k ) = ( n  k ) p^k * ( 1- p) ^ n-kwhere       k = number…

Q: The table shows the estimated distribution of injury severity by child passengers. What is the…

A: The total number of child passengers 6299677.

Q: When taping a television commercial, the probabilityis 0.30 that a certain actor will get his lines…

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Q: In a product liability​ case, a company can settle out of court for a loss of​ $350,000, or go to​…

A: Given Data: Loss if company settle out of court=350000 Loss if company takes case to the court and…

Q: A customer pays  $272.45  for 3-year protection plan for their laptop.  If anything happen to the…

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Q: According to survival probability tables, the probability that an 80 year old male living 1…

A: The probability that an 80 year old male living 1 additional year is 0.93, then the probability that…

Q: Emily has $10000 to invest in Apple stock. In the next month, the stock has a 30% chance of gaining…

A: Total amount for investment = $10000.The probability distribution for the provided data is:

Q: The weekly average number of airplane crashes is 1. Whatis the probability that there will be (a) at…

A: Given Data: Let X be the random variable representing weekly average number of airplane crashes X ~…

Q: A 40-year-old man in the U.S. has a 0.241% risk of dying during the next year . An insurance company…

A: According to the given information, Risk of dying next year = 0.241% Charges of insurance company…

Q: An insurance company charges $1,142 per year to insure your car. They calculate that there is a 8%…

A: Expected value: The expected value of a random variable is the sum of the possible values that the…

Q: In a product liability​ case, a company can settle out of court for a loss of​ $350,000, or go to​…

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Q: An insurance policy on an electrical device pays a benefit of $4800 if the device fails during the…

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Q: A company estimates that 0.7% of their products will fail after the original warranty period but…

A: Given that the company estimates that 0.7% of their products will fall after the original warranty…

Q: The variance of a probability distribution is its second moment about the mean. True or False

A: Given statement: The variance of a probability distribution is its second moment about the mean.

Q: A 31-year-old woman purchases a $100,000 term life insurance policy for an annual payment of $410.…

A: Given, The probability that she will survive the year is 0.999056. The probability that she will not…

Q: According to the Social Security Administration, in 2015, the probability that a 51 year old male…

A: Given information Probability of the 51-year old surviving the year = 0.994476Cost incurred by this…

Q: What is the estimated probability of experiencing a sore throat on waking if the duration of the…

A: The data given is as follows Patient d t y 1 45 0 0 2 15 0 0 3 40 0 1 4 83 1 1 5 90 1…

Q: The probability that a 22-year-old female in the U.S. will die within one year is approximately…

A: Given info:P(22 year old female will die within one year) = 0.00044.Insurance company sells a…

Q: A 25 year old can purchase a one-year life insurance policy for $10,000 at a cost of $100. Past…

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Q: In a video game, a specific attack succeeds at a rate of 18% and every try is independent.…

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Q: Your school is selling raffle tickets as a fundraiser. They sell tickets for $5 each, there are 10…

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Q: In a product liability case, a company can settle out of court for a loss of $350,000, or go to…

A: Let X denotes the loss to the company. The probability of not guilty verdict is, Pnot guilty…

Q: In a recent year, there were 2,515,458 deaths, and 787,650 of them were due to cardiovascular…

A: Total number of deaths = 2515458Number of deaths due to cardiovascular disease = 787650…

Q: A 40-year-old man in the U.S. has a 0.241% risk of dying during the next year. An insurance company…

A:

Q: Alexa is paid P20.00 whenever the results of tossing two coins are both heads but pays P10.00…

A: Given: Two coins are tossed. Winning amount for both heads is, W=P20.00. Losing amount for not both…

Q: It has been found from experience that an exclusive clothes shop makes anaverage of four sales every…

A: Given that an exclusive clothes shop makes an average of four sales every fifteen minutes. If we…

Q: One thousand tickets are sold at P150 each for a color television valued at P54,000. What is the…

A: Solution-: Cost of ticket =P150 Number of tickets=1000 Value of a price =P54000 We find the expected…

Q: The daily price in dollars per metric ton of cocoa in 2007 was normally distributed with 
$2,014…

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Q: Within the nexXt two years. An inexpensive suppressor, which would provide protection for only one…

A: here given, The owner of a small firm has just purchased a personal computer, which she expects will…

Q: An insurance policy that covers the damges on a U Haul truck for the entire rental is $100. If 1 in…

A: Given that: Average cost of repair of van is $1200. Number of damaged rental van is 1 in 200 or…

Q: Suppose a charitable organization decides to raise money by raffling a trip worth $500. If 3,000…

A: Number of tickets sold = 3000

Q: A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance company…

A:

Q: In a product liability​ case, a company can settle out of court for a loss of​ $350,000, or go to​…

A: Given data A company can settle out of court for a loss of $3,50,000  or go trial loosing $1,350,000…

Q: A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance company…

A: It is given that, Revenue of the insurance company = $300. Cost of the insurance company = $…

Q: QUESTION: What is the conditional probability that a repair takes at least 10 hours, given that its…

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Q: d. What is the expected time until failure?

A: It is an important part in statistics . It has got wide applications .

Q: For a continuous probability distribution, 0 15)?

A:

Q: An insurance policy on an electrical device pays a benefit of $2400 if the device fails during the…

A: Given:  probability of failure during that year is 0.29           Probability of non-failure = 1 -…