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You are the Claims Manager for a small auto insurance firm. You know the following facts: - 20% of your policy-holders are younger (age 16-34). Within this group, 60% are men and 40% are women. The men have a 10% probability of making a claim, while the women have a 5% probability of making a claim. - 60% of your policy-holders are middle-aged (ages 35-59). Of these, 50% are men and 50% are women. The men and women within this age group have 4% and 3% probabilities of making a claim, respectively. - 20% of your policy-holders are older (ages 60 and above). Of these, 55% are women and 45% are men. The men and women each have a 3% probability of making a claim. - Any claim will cost the firm $20,000.
(a) For any randomly-selected claim, what is the probability that the claimant is younger? Middle-aged? Older?
(b) For any randomly-selected claim, what is the probability that the claimant is male? Female?
(c) What is the expected claim amount per policy-holder?
PSY7107 Assignment. NORTHCENTRAL UNIVERSITY USA. This week you will use SPSS to create variables and enter data from a table in the textbook
Suppose we play the following game based on tosses of a fair coin. You pay me $10, and I agree to pay you $n2 if heads comes up first on the nth toss.
The company SlimDown makes weight loss products.
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The publisher selects a random sample of 200 subscribers and finds that 116 plan to renew their subscriptions. Use (a=0.01). p = the population of subscribers to Golf Illustrated who renew. Calculate the p-value.
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the mean annual precipitation for dilbertville is 44 in with a standard deviation of 6.5 in. assuming the precipitation
State the null and alternative hypotheses in terms of the treatment effects, then use the 0.025 level of significance in reaching a conclusion regarding the null hypothesis.
Formulate a hypothesis statement for the following claim: "The average adult drinks 1.7 cups of coffee per day." A sample of 35 adults drank an average of 1.95 cups per day. Assume the population standard deviation is 0.5 cups. Using α = 0.10, tes..
What is the probability that more than 20% of the business travelers say that the reason for their most recent business trip was an internal company visit?
Questions can help you guide the direction of topics discussed in conversation. Try to determine people's reactions to your questions and report your findings i
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