Probability of car insurance claims

Assignment Help Basic Statistics
Reference no: EM1399655

A car insurance compancy has recorded the number of claims for the past quarter by age and gender. The information is recorded below.

Age Male Female
Under 25 25 12
25-50 14 8
Over 50 12 9

If a claim is randomly selected, what is the probability the person was under 25 or male?

Reference no: EM1399655

Questions Cloud

Production under normally distributed process : A production process manufactures items with weights that are normally distributed with mean 16 pounds and standard deviation 0.15 pound. An item is considered to be defective if its weight is less than 15.8 pounds or greater than 16.2 pounds.
What''s the probable bargaining negotiation outcome : What's the probable bargaining negotiation outcome if the advertisers bargain by telling each newspaper that they're going to reach agreement with the other newspaper, consequently the gains to reaching agreement are only $9? Presume the two newsp..
Probability of tossing heads on different coins : Suppose three unfair coins are tossed, a nickel, a dime, and a quarter. The probability of tossing a head on the nickel is 0.35; the probability of tossing a head on the dime is 0.20
Calculate total share of the viewing audience : Nielsen ratings are very important to both advertisers and television programmers because the cost of television advertising time is based on this rating.
Probability of car insurance claims : A car insurance compancy has recorded the number of claims for the past quarter by age and gender. The information is recorded below.
Formulate effective change to address stakeholder : Deliberate how leaders identify as well as formulate effective change to address stakeholder expectations
Probability of required university score : A prestigious university requires a score of at least 750 on a graduate exam for admission to its MBA program. Suppose the graduate exam is normally distributed with a mean of 500 and a standard deviation of 200.
Discussion on mass customization : What is meant by mass customization? How can market conditions and consumer desires affect customization?
What are the advantages as well as disadvantages to wal-mart : What are the advantages as well as disadvantages to Wal-Mart in working with unions? Describe the advantages and disadvantages of union membership from the employee perspective.

Reviews

Write a Review

Basic Statistics Questions & Answers

  Computing mean crash damages for vehicles

Five test vehicles of each kind were crashed, with results given below. Research question: Are mean crash damages the same for these 3 vehicles?

  Determine the standard error of the proportion

1) There are 500 employees in a firm, 45% are female. A sample of 60 employees is selected randomly. a) Determine the standard error of the proportion.

  Resulting an annual net cash flow

Of the next 15 people that invest in this project, what is the probability that 5 or less people will result an annual net cash flow of at least $100,000.

  Possible relationship between variables

Which of the following does not explain a possible relationship between variables when the null hypothesis is rejected

  Statistical technique in the regression analysis

The statistical technique used in the regression analysis. The sum of squares is a mathematical approach to determining the dispersion of the data points.

  Question on secondary data

Please share 3 real world examples of problems, which occurred due to the use of secondary data. Be specific about the consequences as well the secondary data used. You may use your own organization or research the net or literature for this one.

  Population mean weight of non-athletic men

Can we conclude at the 5% significance level that the population mean weight of athletic men is lower than the population mean weight of non-athletic men?

  Mean crash damages of vehicles

Research question: Are the mean crash damages the same for these three vehicles?

  Determining one way anova

Scrap rates per thousand (parts whose defects cannot be reworked) are compared for 5 randomly selected days at three plants. Does the data prove a significant difference in mean scrap rates?

  Simple random sampling-cluster sampling

Compare the differences of Simple random sampling & Cluster sampling using specific examples, and show the pros and cons of each method.

  Probability of accepting false null hypothesis

If the true mean for Saturday sales is now $4500, what is the probability of accepting the (false) null hypothesis.

  Determining simple regression analysis

A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd