An insurance company/organization takes a keen interest in the age at which a person is insured. Thus a survey conducted on prospective clients indicated that for clients having the similar age the probability that they will be alive in 30 years time. This probability was established by utilizing the actuarial tables. If a sample of 5 people was insured still, determine the probability of having the given possible outcomes in 30 years

a) All are alive

b) At least 3 are alive

c) Mostly one is alive

d) None is alive

e) At least 1 is alive

Sample size = 5

P(alive) p = 2/3 where P (not alive) = q = 1/3

Posted Date: 2/20/2013 6:20:57 AM | Location : United States

Ask an Expert

Related Discussions:- Determine the probability, Assignment Help, Ask Question on Determine the probability, Get Answer, Expert's Help, Determine the probability Discussions

Write discussion on Determine the probability
Your posts are moderated

Write your message here..

Related Questions

Remainders, 14/3 14/3

Callie grandmother pledged $0.50 for each mile callie walked, Callie's gran... Callie's grandmother pledged $0.50 for each mile Callie walked in her walk-a-thon. Callie walked 9 miles. How much does her grandmother owe? Multiply the number of miles (9) th

Determine the area of the book jacket, A publishing company is creating a b... A publishing company is creating a book jacket for a newly published textbook. Determine the area of the book jacket, given that the front cover is 8 in wide by 11 in high, the bin

Define an ordered rooted tree, Define an ordered rooted tree. Cite any two ... Define an ordered rooted tree. Cite any two applications of the tree structure, also illustrate using an example each the purpose of the usage.   Ans: A  tree is a graph like t

Applying percents, If a single person makes $25,00 a year, how much federal... If a single person makes $25,00 a year, how much federal income tax will he or she have to pay ?And they are gining me a chart that says $0 to $27,050 is 15% of taxes .

Launching of a new product, Launching a new product (Blackberry Cube) Analy... Launching a new product (Blackberry Cube) Analysis (target market) Product features Promotions and advertisement sample design (location)

Prove that sec2+cosec2 can never be less than 2, Prove that sec 2 θ+cosec 2... Prove that sec 2 θ+cosec 2 θ can never be less than 2. Ans:    S.T Sec 2 θ + Cosec 2 θ can never be less than 2. If possible let it be less than 2. 1 + Tan 2 θ + 1 + Cot

Frobenius number, Wht is Frobenius Number? Start discussion and problems so... Wht is Frobenius Number? Start discussion and problems solving in Frobenius Number.

Definition of relation, Definition of Relation A relation is a set of o... Definition of Relation A relation is a set of ordered pairs. It seems like an odd definition however we'll require it for the definition of a function though, before actuall

Algebraic models, Establish appropriate algebraic models for each of the fo... Establish appropriate algebraic models for each of the following sets of data. You can use technology to assist. Plot them on grids and demonstrate how you have established each mo