How many of the policyholders would you expect

Assignment Help Business Economics
Reference no: EM132367427

An auditor for Health Maintenance Services of Georgia reports 40% of policyholders 55 years or older submit a claim during the year. Fifteen policyholders are randomly selected for company records. Need to show work in Excel

a. How many of the policyholders would you expect to have filed a claim within the last year?

b. What is the probability that 10 of the selected policyholders submitted a claim last year?

c. What is the probability that 10 or more of the selected policyholders submitted a claim last year?

d. What is the probability that more than 10 of the selected policyholders submitted a claim last year?

Reference no: EM132367427

Questions Cloud

Explain the reasoning for concluding there are no outliers : Identify any outliers in the data set and list them here. Explain why they qualify as outliers or, if none, explain the reasoning for concluding
Find the indicated percentile or quartile for the given data : Find the indicated percentile or quartile for the given data values. (Round answer to the nearest tenth when necessary)
How does the population of pleasanton at the end : How does the population of Pleasanton at the end of the 1990s compare with its population in 1980?
What will be the average life expectancy : Q0010. Research shows that infant mortality rate (number of infant less than a year old who die per every 1000 live births) is a strong predictor of average
How many of the policyholders would you expect : a. How many of the policyholders would you expect to have filed a claim within the last year?
What is the probability that the next woman : What is the probability that the next woman to arrive comes no more than 15 minutes before or after the next man to arrive?
Dots of a scatter plot seem to be randomly : If the dots of a scatter plot seem to be randomly distributed across the graph, what can we conclude out of the following:
What was the increase in the 5th year : The rates of increase for the first four years were 6.5%, 6.1%, 5.2% and 4.4%. What was the increase in the 5th year?
Draw the particular sample described below : Recommend the steps that should be taken to draw the particular sample described below. In addition, critically analyze the sampling plan.

Reviews

Write a Review

Business Economics Questions & Answers

  How should they be produced

There are three questions, which must be addressed by any economy: What should be produced, How should they be produced, and to whom do they go?

  What will happen to the price of the computer in yuan

What will happen to the price of the computer in Yuan. Illustrate what will be the effect on Dell's cost of production.

  Booking vacations to europe for the coming year

European vacations are getting cheaper than they have been in years. With the dollar gaining 14.6 percent on the euro and 12.1 percent on the British pound over the past 12 months, large numbers of U.S. tourists are already booking vacations to Europ..

  Assume that an individuals preferences is represented

Assume that an individual’s preferences is represented by the following utility function: U(X,Y) = (X^α)(Y)

  What is the maximum market price you will pay

Wagner Industries preferred stock has a par value of $50 and a stated dividend rate of 6.0%. This means that Wagner will pay $3.00 (6% x $50) in dividends per share, per year forever. There will never be an increase or decrease in the dividend. Suppo..

  What is the investors risk aversion coefficient

Suppose an investor’s utility function is given by U(r) = 1/3 E(r) − 1/2 A · V ar(r). Suppose there is a risk-free asset whose return is given by ¯r = 0.03. Suppose there is a single risky asset P that has an expected return of 0.08 and standard devi..

  Small consulting company is planning to make deposits

A small consulting company is planning to make deposits such that each one is 3% larger than the preceding one. What is the annual equivalent of this cash flow if the company makes 12 deposits and the interest rate is 8%? The first deposit is $7,000 ..

  Illustrate what happens to the price received by sellers

Solve for the new equilibrium. Illustrate what happens to the price received by sellers, the price paid by buyers, and the quantity sold.

  What is the minimum attractive rate of return

If the budget is about $100,000, which of the following projects should be done? What is the minimum attractive rate of return?

  Differentiate with examples-total cost

Differentiate with examples, total cost (TC), total fixed cost (TFC) and total variable cost (TVC)?

  Other factors that influenced the growth of social media

Identify and discuss some of the other factors that influenced the growth of social media. To get you started and pointed in the right direction, consider how the use of digital cameras, digital video cameras, cell phones with cameras, and portable d..

  The terms of trade between two countries refer

The terms of trade between two countries refer to

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