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Question 4 (2 points) An automobile insurance company divides customers into three categories: good risks, medium...
#10) An automobile insurance company divides customers into three categories: good risks, medium risks, and poor...
#10) An automobile insurance company divides customers into three categories: good risks, medium risks, and poor risks. Assume that 70% of the customers are good risks, 20% are medium risks, and 10% are poor risks. Assume that during the course of a year, a good risk customer has probability 0.00s of filing an accident claim a medium risk customer has probability 0.01 and a poor risk customer has probability 0.02s chosen at random. [Let GR denote good risks, MR denote...
2 (10 points). A credit card company divides its customers into two categories: low risk and high...
2 (10 points). A credit card company divides its customers into two categories: low risk and high risk, based on a certain credit score. According to company's satistics, 10% of customers are high risk and the rest are low risk. The chances that a low risk customer will miss a payment or not pay his/her full balance on time at least once in any given year are 5%, while these chances increase to 30% for high risk customiers. If a...
An insurance company classifies its customers into three categories: 1. Good Risk 2. Acceptable Risk 3....
An insurance company classifies its customers into three categories: 1. Good Risk 2. Acceptable Risk 3. Bad Risk Customers independently transition between categories at the end of each year according to a Markov process with the following transition matrix: P = 0.6 0.3 0.1 0.5 0.0 0.5 0.4 0.4 0.2 Find the long-run proportion of time in Good Risk, and the expected number of steps needed to return to Good Risk.
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and...
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high -for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Auto 0.05 0.20 0.15 Suppose an individual having both types of policies is randomly selected....
Question 6 (2 points) In a survey, participants were asked how much confidence they had in...
Question 6 (2 points) In a survey, participants were asked how much confidence they had in the economy. The results were as follows Response Number A great 14,543 deal Some 6,023 Hardly 4,351 any What is the probability that a sampled person has either some confidence or a great deal of confidence in the economy? Write only a number as your answer. Round to two decimal places (for example: 0.43). Do not write as a percentage. Your Answer: Answer
Question 4 (4 points) Jayden has a coin that is weighted so that the probability that...
Question 4 (4 points) Jayden has a coin that is weighted so that the probability that Tails appears when it is tossed is 0.55. Suppose that the coin is tossed 11 times. What is the probability that he obtains Tails 3 times? Write only a number as your answer. Round to four decimal places (for example: 0.0325). Do not write as a percentage, Your Answer: Answer
Question 9 (1.2 points) The GMAC Insurance company reported that the mean score on the National...
Question 9 (1.2 points) The GMAC Insurance company reported that the mean score on the National Drivers Test was 78.3 with a standard deviation of 3.3 points. The test scores are approximately bell shaped. Approximately 68% of all test scores were between two values A and B what is the value of A? Write only a number as your answer. Round to one decimal place. Your Answer: Answer Question 10 (1.2 points) In a large sample of customer accounts, a...
Question 9(1.2 points) The GMAC Insurance company reported that the mean score on the National Drivers...
Question 9(1.2 points) The GMAC Insurance company reported that the mean score on the National Drivers Test was 78.3 with a standard deviation of 2.6 points. The test scores are approximately bell-shaped. Approximately 68% of all test scores were between two values A and B. What is the value of A? Write only a number as your answer. Round to one decimal place. Your Answer: Answer Question 10 (1.2 points) In a large sample of customer accounts, a utility company...
govw.usg edu Question 5 (1.2 points) The probability that a randomly selected individual in a certain...
govw.usg edu Question 5 (1.2 points) The probability that a randomly selected individual in a certain community has made an online purchase is 0.34. Suppose that a sample of 11 people from the community is selected, what is the probability that at most 3 of them has made an online purchase? Write only a number as your answer. Round to 2 decimal places (for example 0.24). Do not write as a percentage. Your Answer: Answer Question 6 (1.2 points) At...
Question 4 (1.2 points) The probability that a student uses the Academic Resource Center on a...
Question 4 (1.2 points) The probability that a student uses the Academic Resource Center on a regular basis is 0.35. In a group of 21 students, what is the probability that exactly 5 of them use the Academic Resource Center on a regular basis? Write only a number as your answer. Round to 4 decimal places (for example 0.2416). Do not write as a percentage. Your Answer Answer
#10) An automobile insurance company divides customers into three categories: good risks, medium risks, and poor risks. Assume that 70% of the customers are good risks, 20% are medium risks, and 10% are poor risks. Assume that during the course of a year, a good risk customer has probability 0.00s of filing an accident claim a medium risk customer has probability 0.01 and a poor risk customer has probability 0.02s chosen at random. [Let GR denote good risks, MR denote...
2 (10 points). A credit card company divides its customers into two categories: low risk and high risk, based on a certain credit score. According to company's satistics, 10% of customers are high risk and the rest are low risk. The chances that a low risk customer will miss a payment or not pay his/her full balance on time at least once in any given year are 5%, while these chances increase to 30% for high risk customiers. If a...
An insurance company offers four different deductible levels-none, low, medium, and high-for its homeowner's policyholders and three different levels-low, medium, and high -for its automobile policyholders. The accompanying table gives proportions for the various categories of policyholders who have both types of insurance. For example, the proportion of individuals with both low homeowner's deductible and low auto deductible is 0.07 (7% of all such individuals). Auto 0.05 0.20 0.15 Suppose an individual having both types of policies is randomly selected....
Question 6 (2 points) In a survey, participants were asked how much confidence they had in the economy. The results were as follows Response Number A great 14,543 deal Some 6,023 Hardly 4,351 any What is the probability that a sampled person has either some confidence or a great deal of confidence in the economy? Write only a number as your answer. Round to two decimal places (for example: 0.43). Do not write as a percentage. Your Answer: Answer
Question 4 (4 points) Jayden has a coin that is weighted so that the probability that Tails appears when it is tossed is 0.55. Suppose that the coin is tossed 11 times. What is the probability that he obtains Tails 3 times? Write only a number as your answer. Round to four decimal places (for example: 0.0325). Do not write as a percentage, Your Answer: Answer
Question 9 (1.2 points) The GMAC Insurance company reported that the mean score on the National Drivers Test was 78.3 with a standard deviation of 3.3 points. The test scores are approximately bell shaped. Approximately 68% of all test scores were between two values A and B what is the value of A? Write only a number as your answer. Round to one decimal place. Your Answer: Answer Question 10 (1.2 points) In a large sample of customer accounts, a...
Question 9(1.2 points) The GMAC Insurance company reported that the mean score on the National Drivers Test was 78.3 with a standard deviation of 2.6 points. The test scores are approximately bell-shaped. Approximately 68% of all test scores were between two values A and B. What is the value of A? Write only a number as your answer. Round to one decimal place. Your Answer: Answer Question 10 (1.2 points) In a large sample of customer accounts, a utility company...
govw.usg edu Question 5 (1.2 points) The probability that a randomly selected individual in a certain community has made an online purchase is 0.34. Suppose that a sample of 11 people from the community is selected, what is the probability that at most 3 of them has made an online purchase? Write only a number as your answer. Round to 2 decimal places (for example 0.24). Do not write as a percentage. Your Answer: Answer Question 6 (1.2 points) At...
Question 4 (1.2 points) The probability that a student uses the Academic Resource Center on a regular basis is 0.35. In a group of 21 students, what is the probability that exactly 5 of them use the Academic Resource Center on a regular basis? Write only a number as your answer. Round to 4 decimal places (for example 0.2416). Do not write as a percentage. Your Answer Answer
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