Probability related to abc auto insurance classifies

Assignment Help Basic Statistics
Reference no: EM13100506

ABC Auto Insurance classifies drivers as good, medium, or poor risks. Drivers who apply to them for insurance fall into these three groups in the proportions: 30 percent, 50 percent, and 20 percent, respectively. The probability a "good" driver will have an accident is .01, the probability a "medium" risk driver will have an accident is .03, and the probability a "poor" driver will have an accident is .10. The company sells Mr. Brophy an insurance policy and he has an accident. What is the probability Mr. Brophy is :

Reference no: EM13100506

Questions Cloud

Setting up a probability distribution : Fast Service Store has maintained daily sales records on the various size 'Cool Drink' sales. These are shown in the following table:
Describe test statistic and p-values : Test a hypothesis to see if this proportion has changed since 1985. I have the standard error and a t-score of 1.660. I need the test effect, test statistic and p-values.
Write annual report describing departments of hospital : Highlight pertinent laboratory and radiological diagnostic services contributed to each of ten departments. Recognize the specialty teams in respective departments and services they offer.
Normal probability of tire life : A Tire company has developed a new type of tire. Extensive testing shows that the number of miles the new tire will run before wearing out is normally distrubuted with a mean of 40,000 miles and a standard deviation of 4,000 miles
Probability related to abc auto insurance classifies : ABC Auto Insurance classifies drivers as good, medium, or poor risks. Drivers who apply to them for insurance fall into these three groups in the proportions: 30 percent, 50 percent, and 20 percent, respectively.
What is player speed immediately after stopping the ball : a 71 kg baseball lplayer jumps straight up to catch a line drive. If the 140 g ball is moving horizontally at 28 m/s and the catch is made when the ball player is at the highest point of his leap what is his speed immediately after stopping the ba..
Difference in employer support of and domination of union : Discuss the difference between an employer's support of and domination of a union. Compare and contrast the factors the might contribute to employees' voting to decertify a union.
What is the angular acceleration of the pulley : a frictionless pulley which can be modeled as a 0.80 solid cylinder with a 0.30 m radius has a rope going over it. The tension in the rope is 10 N on the right side and 12 N on the left side. What is the angular acceleration of the pulley.
Sampling in statistics : The probability of accepting a lot that is 10% defective is .677. Does that mean, then, that the probability of rejecting the lot is 0.333?

Reviews

Write a Review

Basic Statistics Questions & Answers

  Upper limit of normal on two seperate occasions

Frequently, tests tha yeild abnormal results are repeated for confirmation. What is the probability that for a normal person a test will be at least 1.5 times as high as the upper limit of normal on two seperate occasions.

  Constructing confidence interval-mean amount of paint

Construct a 99% confidence interval estimate of the population mean amount of paint in a 1-gallon can.

  Value of probability having sample mean

A random sample of n = 16 scores is selected from a normal distribution with a mean of μ = 50 and standard deviation of σ = 10. a) What is the probability that the sample mean will have a value between 45 and 55?

  Relationship between objectives and goals

Critically discuss the difference among strategic, long-term, and short-term objectives? What is the relationship between objectives and goals? What are examples of this relationship?

  Generate descriptive statistics

Generate descriptive statistics. Create a stem-and-leaf plot of the data and box plot of the data.

  Clarification of standard deviation

According to the data from the College Entrance Examination Board, scores on the SAT-I test have a mean of 1017, and Q1 is 880.

  Significance level that the claim is true

If we assume that the lifetime of this type of bulb has a standard deviation of 400 hours, can we conclude at the 5% significance level that the claim is true.

  Calculate the mean and variance of the sample data

The times needed to fall asleep are assumed to follow a normal distribution. The results for the two nights for the ten volunteers are shown below:

  Illustrate a quantitative assessment of what our charts

Illustrate a quantitative assessment of what our charts would look like and what these new targets would do to our operations.

  Finding value that corresponds to standard scores

Find the value of x that corresponds to each of these standard scores z = -1.85.

  Null and alternative hypothesis for one-sample testing

Discuss how the null and alternative hypothesis for one-sample testing differs from two-sample testing; and explain how these two hypothesis' are the same, and provide a numerical example?

  Null and alternate hypothesis for the issue

In looking at your business, when and why would you want to use a one-sample mean test (either z or t) or a two-sample t-test? Create a null and alternate hypothesis for one of these issues. How would you use the results?

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