yrold woman purchases a tor annual H 34 D0,000 term life payment of $50D. that She wl sucude the IS O.999059. palicu y The probabilit year The expected Value 0f the policy tor 1nSurance is pOli

Q: Let X be the number of large screen TVs sold daily by a certain appliance retailer. The pmf p(x) of…

A:

Q: fs new every an insurance On average,one in clients appoached by Salesman purchases an insurance…

A: Let X=the number of clients who purchased an insurance policy n=number of trials= 5 p=probability of…

Q: Ex8: suppose by Geiger counter follow a Poisson process with an average of two counts per minute. a/…

A:

Q: On the way to school, a student encounters a traffic light on Main Street. The s that she will get…

A: let p(q)=probability get stopped =0.23 and p(r)=not get stopped=0.77

Q: Suppose that Uncle Scrooge's basement swimming pool in his Duckburg mansion is filled with diamonds,…

A: Introduction: The total value of the jewelry in the pool is 1 million trillion dollars. The total…

Q: An insurance policy covers a $20 000 sapphire ring against theft and loss. If the ring is stolen…

A:

Q: Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term…

A: Note: " Since you have posted many sub-parts. we will solve the first three sub-parts for you. To…

Q: 25. Are X and Y independent? 26. What is the expected amount of gold a prospector digs in a day? 27.…

A: 25) It is given that X is independent of Y The amount of gold digs and the price of gold are…

Q: A boiler has four identical relief valves. The probability that any particular valve will open on…

A: Solution: Let X be the number of valve opens and n be the number of identical relief valves. From…

Q: Amount of claim (to the nearest $50,000) $0 Probability he table shows claims and their robabilities…

A: 1) Compute the expected value of claim amount using the formula: EX=∑i=1nx.px Where, 'x' represent…

Q: =4, H1:8-9. show that the sequential probability ratio test car statistic X7, with a=0.05 and…

A: *Answer:

Q: Q5. You are considering two investment choices: a. 1 year CD that pays 2% for sure; b. investing in…

A: It is provided that the investment in CD has return of 2% for sure.So, the mean return of this…

Q: %24 A company estimates that 0.4% of their products will fail after the original warranty period but…

A: It is a basic algebra problem

Q: A life insurance salesman operates on the premise that the probability that a man reaching his…

A: a) Given p=0.05 n=11 The expected number of policies that will pay out before the insured parties…

Q: A boiler has five identical relief valves. The probability that any particular valve will open on…

A: We have given that,  Let X be the random variable from binomial distribution with probability of…

Q: Find the probability that there are at least 3 earthquakes in the next 2 month. Let T be the time…

A:

Q: We roll a die once. If 3 or 6 comes up, we win 81 dollars; if 1 comes up, we lose 324 dollars; if…

A: Probability of getting 3 or 6 = 2/6  Probability of getting 1 = 1/6  Probability of any other number…

Q: Please calculate using formulas in simplest forms - show work   You invest $500,000. The expected…

A: Given Information:     Value of the portfolio(Vp)=500,000Expected return (Rp)=0.12Standard deviation…

Q: 43. Profit Because of a slump in the economy, a company finds that its annual profits have dropped…

A:

Q: A gambler throws a single fair die once. If the amount shown is x, then he will be paid a total of T…

A: There are 6 faces on the fair die and all faces have equal probabilities. That is, {1, 2, 3, 4, 5,…

Q: Po = 1/8, p, 3/16, p: = 3/8, p = 3/16, p= 1/8, p, 0 if n>4. Calculate d) The expected number of…

A: NOTE: As per the guidelines, we are supposed to solve the first three subparts only. d). The formula…

Q: What is the expected payoff on a single special lottery ticket? Ignore the price of the ticket which…

A: A special lottery is held where a four-digit number is chosen at random from the range 0000 − 9999.…

Q: Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term…

A: Given data,

Q: An insurance policy costs $105 per year and insures the items in the policy owner's home against…

A: We know the formula for expected return is : Here there are two scenarios ,  Either there will be a…

Q: Fill in the blank. The states that if, under a given assumption, the probability of a particular…

A: Given dataFill in the blank  The_____states that if under a given assumption the probability of a…

Q: | X*-PCx) Number of Boxes I probability x- P) of breads x PCx) 0.20 0.25 10 15 0.30 20 0.15 0.10…

A:

Q: operating condition is 0.92. Calculate the reliability of the power system. oblem : Three battery…

A:

Q: A boiler has four identical relief valves. The probability that any particular valve will open on…

A:

Q: Jim is a 60-year-old Anglo male in reasonably good health. He wants to take out a $50,000 term…

A: (a) Consider the information in which a 60-year-old person who wants to take out $50,000 term life…

Q: Suppose you work for a company that manufactures electronics. The development analysts estimate that…

A: Suppose you work for a company that manufactures electronics. The development analysts estimate that…

Q: Suppose you work for a company that manufactures electronics. The development analysts estimate that…

A: Given data The development analysts estimate that 3% of their flagship product will fail with in 2…

Q: If Z = X+2Y, find P(Z) and find E(Z) (the expected value)

A: The joint probability distribution of X and Y is given by:

Q: a. Find the probability of randomly selecting a student who spent the money, given that the student…

A: a. The row and column totals are,   Purchased Gum Kept the Money Total Students Given Four…

Q: 5. Choose the best answer. Sammi plans on selling Christmas tree ornaments. She figured a profit of…

A:

Q: b) Find P(5< 50) ising }(y). c) Find P(4 < Y < 100) using F(y). d) What is the probability that of 5…

A: The required probability can be calculated as:

Q: A lottery offers a grand prize of $10,000; 10 runner-up prizes each paying $1000; 100 third-place…

A:

Q: An individual who has automobile insurance from a certain company is randomly selected. Let Y be the…

A:

Q: A boiler has five identical relief valves. The probability that any particular valve will open on…

A:

Q: An insurance policy on an electrical devicepays a benefit of $4000 if the device fails during the…

A: Consider the given: Let P be the probability of failure during a year p=0.4Hence, the probability of…

Q: A life insurance salesman operates on the premise that the probability that a man reaching his…

A:

Q: Amount of claim (to the nearest $20,000) $0 $20,000 $40,000 $60,000 Probability The table shows…

A:

Q: Class Number of Claim Count Probabilities Insureds 1 4 1 3000 2000 3 1000 A randomly selected…

A:

Q: years is given by f(y) = Derive the expected value of Y? ye e-to 100 0, 0<y<∞ elsewhere

A: Solution

Q: The claim frequency of a policy with no deductible is distributed as NB(3,0.2). T claim severity is…

A: Let us define NL as the claim frequency of a policy with no deductible and follows NB(3, 0.2)…

Q: 200,000 lottery tickets are sold for $3 each. There is one jackpot prize of $50,000, 25 second…

A:

Q: Suppose you pay $500 per year to insure your car worth $10,000. The probability that you get in an…

A: Expected value of the insurance will be, E(X)= (The amount your car worth)*(probability that you get…

Q: To generate leads for new business, Gustin Investment Services offers free financial planning…

A:

Sequence and Series

A sequence is defined as a collection of things. Series is defined to sum the things one by one in the sequence.  It was invented by German mathematician Carl Friedrich Gauss.