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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
Ashley's car insurance costs her $115 per month. How much does it cost her per year? Multiply $115 by 12 because there are 12 months in a year; $115 × $12 = $1,380 per year.
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EVERY TIME I TRY TO DO ANY KIND OF FRACTIONS WELL MULTIPLYING I ALWAYS GET IT WRONG
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