Important information about probability and expected value

Reference no: EM13119195

Important information about Probability and Expected Value

1. Assume that two marbles are drawn without replacement from a box with 1 blue, 3 white, 2 green, and 2 red marbles. Find the probability that the second marble is blue, given that the first marble is blue.

2. There are 10 members on a board of directors. If they must elect a chairperson, a secretary, and a treasurer, how many different slates of candidates are possible?

3. An insurance company has written 81 policies of $50,000, 480 of $25,000, and 945 of $10,000 on people of age 20. If the probability that a person will die at age 20 is .001, how much can the company expect to pay during the year the policies were written?

Reference no: EM13119195

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